- Posted January 3, 2013 by
This iReport is part of an assignment:
The fiscal cliff: Messages to Washington
Death Spiral States - Takers Outnumber Makers
The death spiral states are: California, New York, Illinois, New Mexico, Ohio, Kentucky, New York, Hawaii, Mississippi, Alabama, South Carolina and Maine.
Takers are people who draw money from the government, as an employee, pensioner or welfare recipient. A maker is someone gainfully employed in the private sector.
When the number of takers outnumbers the makers, taxes get too high. When taxes get too high, employers leave and so do residents, creating an even worse situation for the taxpayers left behind.
To become a death spiral state, you also have to be lending risk…
With our lousy economy, wonder how many more states will be added to the list next year?