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Higher tax doesn't slow economy

3 years 6 months 2 weeks ago March 13, 2013 Mar 13, 2013 Wednesday, March 13 2013 March 13, 2013 7:12 PM in News
Source: Associated Press
By: Michael Marsh

WASHINGTON- An economist says it looks like the impact of the higher Social Security tax that hit Americans in January "hasn't been too bad." Paul Dales of Capital Economics reacted to Wednesday's report on retail sales from the Commerce Department. It says Americans boosted their spending by 1.1 % last month compared to the previous month. About half the jump reflected higher gasoline prices and most economists are encouraged by the stronger-than-expected gains. Some say the economy may be growing at a faster rate than expected this quarter.

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