HARRISBURG PATRIOT NEWS Column: … The state’s population under age 19 is projected to drop by 1.9 percent between now and 2020. It’s working age population will stay the same. Meanwhile, it’s senior population will spike by 21 percent — in a state that’s already the fourth oldest in the country.
That’s going to affect everything.
Fewer working age employees means a slower growing economy and fewer people paying income tax. Seniors are more likely to spend on non-taxable items — healthcare and medicine — than to buy stuff that brings the state healthy returns on sales tax, like a new car or furniture,[ Matt Knittel, Director of Pennsylvania’s Independent Fiscal Office] said… (more)
