Dive Summary:

• According to the Conference Board index, consumer confidence fell to 58.6% from 66.7% in December, much lower than the predicted 64% by Bloomberg.
• The low confidence ratings coincide directly with a 2% tax increase being used to fund Social Security,
• The response to increased taxes has forced consumers to the The 8.1-point slump from December to January is the biggest since August 2011, and parallels other measures of consumer confidence such as the Bloomberg Consumer Comfort index.

From the article:

"...A report released Tuesday by The Conference Board showed that confidence among U.S. consumers fell in January to its lowest point since November 2011.

The Conference Board’s index decreased to 58.6..."