Before Jan. 1, many warned that taxing the wealthy would snuff out the recovery. If the wealthy had to pay more taxes, they would spend less, invest less and give less to charity. So far, it doesn't seem to be happening—at least not on a large scale.
According to a new poll, a majority of people making $500,000 or more (those paying the higher income tax rate) said that the tax hikes have not impacted their spending, charitable giving or investment strategies.
The Shullman Luxury and Affluence Monthly Pulse found that 55 percent of people making $500,000 or more said higher taxes have not impacted their spending plans. Fully 61 percent of those making $250,000 or more said taxes have not impacted their spending plans.