Reported about 16 hours ago
The recently passed GOP tax bill is poised to shift purchasing power from lower-income to higher-income consumers, according to RBC Capital Markets economist Carrie Freestone. Despite potential tax benefits, higher-income individuals, who typically save more, are exhibiting caution, reflected in recent declines in spending in the services sector. This uncertainty may hinder significant consumption growth, raising questions about the bill's overall economic effectiveness.
Source: YAHOO