Friday, December 7, 2012

Death Spiral States - Makers v Takers Part II



Very interesting article linked below.  Readers who live in the cesspools of corruption listed are invited to come home to Texas!  Don't be fooled by the Ohio address below.  The northern branch of the Salmon Clan resides in Kentucky.  The office is located in Ohio and its what you might call asset light.

Two factors determine whether a state makes this elite list of fiscal hellholes. The first is whether it has more takers than makers. A taker is someone who draws money from the government, as an employee, pensioner or welfare recipient. A maker is someone gainfully employed in the private sector. 
Let us give those takers the benefit of our sympathy and assume that every single one of them is a deserving soul. This person is either genuinely needy or a dedicated public servant or the recipient of a well-earned pension. 
But what happens when these needy types outnumber the providers? Taxes get too high. Prosperous citizens decamp. Employers decamp. That just makes matters worse for the taxpayers left behind.
This is serious business, especially for governments in these death spiral states.  If the current course is not reversed disaster looms.  Chicago?  New York?  LA?  Detroit?  The cities fail first, but the states won't be far behind.

Read the whole thing!





James L. Salmon, Esq.
Collaborative Construction
300 Pike Street
Cincinnati, Ohio 45202

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Office 513-721-5672
Fax 513-562-4388
Cell 512-630-4446
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