Upper-Income Spending Plummets as Higher Taxes Loom | Conservative Byte

Upper-Income Spending Plummets as Higher Taxes Loom | Conservative Byte: "The post-election focus on the fiscal cliff has implications not only for the long-term economic outlook, but also for the immediate future. There is no better illustration of the real world impact of current policy debates than the way self-reported upper-income consumer spending has plummeted during recent weeks. While many investors may be taking profits now in anticipation of higher taxes, other upper-income Americans may be pulling back on spending in anticipation of lower after-tax take home pay in 2013."

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