Are Restaurants Feeling Our 2% Tax Increase? [POLL]
You bet they are! If you're feeling the 2% payroll tax increase that started in January, you're not alone! The three month report showed restaurants took a serious hit especially in February. The Daily Meal stated there could be a few things to blame, but I can't help but think about the payroll tax. The average family of 4 with two parents working are losing about $200 a month in take home pay. I know I'm feeling it!
Casual restaurant sales fell 1.6 percent in December, 0.6 percent in January, and a whopping 5.4 percent in February, according to the report. It’s the first time that there were three consecutive months of decline in three years, and the reason for the drop just might have something to do with the fact that since the "sequester" kicked into effect, more taxes are being taken from paychecks every months. Another reason? This winter has been particularly rough (after last year’s relatively mild one), and less people go out to eat when the weather is crummy.
Are you feeling the extra taxes in your wallet? If you are you cutting back on things?