The correct spelling of the phrase "am taken cleaners" is "I'm taken to the cleaners", which means to be taken advantage of financially. The pronunciation of "I'm" is /aɪm/, while "taken" is pronounced as /ˈteɪkən/ and "cleaners" as /ˈkliːnərz/. The phrase can be confusing, as it does not follow conventional grammar rules. However, its use of the idiom is understood in colloquial English.