Higher-income households are already scaling back their spending in anticipation of tax increases next year after Bush tax cuts expire. That according to an independent analysis by the Thomson Reuters University of Michigan Survey of Consumers.

The ongoing debate in Washington over whether to extend Bush-era tax cuts “has already negatively affected the economic expectations among households with incomes over $250,000,” according to the report, which was released Friday. The survey measures consumer confidence towards the economy and consumers’ own finances.

Without congressional action, the tax breaks would expire at the end of the year. President Barack Obama and Democratic leaders want to extend breaks for families making less than $250,000 a year, but allow those for higher earners to expire. Democrats contend that tax cuts for the wealthy wouldn’t stimulate the economy as much as those for lower-income earners. Republicans generally want to extend the tax breaks for all income groups.

See, poor people tend not to invest large sums of money in the expansion of companies or luxury purchases. You don’t find many people on food stamps simultaneously owning shares of Berkshire Hathaway. Which means if you want to stimulate the economy and create jobs, you kind of need the wealthier end of the spectrum to lay down some cash.

You know what stops the wealthy from laying down cash to invest in the expansion of companies? Washington taking more money away from the wealthy through massive tax increases. Instead of going to invest in creating more jobs or sustaining current ones, the money goes to Washington so Congress can build memorials to itself.

Washington Democrats want the wealthy to both lose more money to taxes and sustain current spending levels. That’s like expecting something to be both wet and dry at the same time. It doesn’t happen.

Here’s the conclusion of the independent analysis:

Postponing a tax-cut extension could “push the economy even closer to a double dip,” the report said. “Given the weak outlook for growth, the uncertainty aroused by a prolonged debate may be penny wise and pound foolish.”

If you want the wealthy to invest more money in the economy, let them keep more of their own money to spend and invest. If you’re going to take more money away from them through taxes, don’t be surprised when they scale back their private spending and investment habits.