Sean Snaith

Fiscal Cliff
8:50 am
Thu January 3, 2013

In Florida, Payroll Tax Means It's Still A Cliff

CLIFF NOTE: A leading economist says the two percent payroll tax increase will drain $6.5 billion out of the Florida economy.

Congress' fiscal cliff compromise may have protected Florida's middle class wage earners from a massive income tax increase, but the small tax increase it didn’t address remains a threat to the recovering state economy.

Starting Jan. 1, a two percent payroll tax holiday that President Obama put in place in 2010 expires, meaning that the paycheck deduction that funds Social Security will increase by that same two percent.

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News
12:15 pm
Thu November 29, 2012

Drop In Consumer Confidence Doesn't Keep Floridians From Spending

UCF Economist Sean Snaith expects Washington to avoid the fiscal cliff, allowing the economy to continue a very slow recovery.
Credit CBC Saunders Real Estate/flickr

Consumer confidence in Florida dropped this month, but retailers were busy over the Thanksgiving/Black Friday weekend.

The National Retail Federation says more people went shopping on Black Friday this year than ever before.

University of Central Florida Economist Sean Snaith says shoppers may just be more budget conscious and eager to take advantage of big sales.

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