Best Quote Evah

Discussion in 'Economics' started by lrm21, Nov 11, 2008.

  1. lrm21


    Average NYC drone when quizzed about Bloomy's plan to raise tolls and other taxes

    "I wouldn't be in favor of it, but if this is something we have to do to stimulate the economy then I'm all for it," added Angela Grant.

    Man I must of slept through econ 101 when we discussed how raising tolls and taxes has a wonderful stimulating effect on the economy.

    Full Article
    Cash-Strapped MTA Reveals Grim Financial News
    Finance Committee Meeting Sheds Light On Projected Course In Light Of Financial Crisis

    Agency's Budget Gap Grows By $575 Million
    Magee Hickey NEW YORK (CBS) ― It was only grim news coming out of the Metropolitan Transportation Authority Finance Committee meeting Monday morning.

    Because of the financial crisis on Wall Street, the MTA's projected budget gap, forecast in July, has grown by $575 million. The grim reality that has extended onto the streets of one of the country's richest city is factoring in an anticipated 8 percent fare and toll hike for June 2009.

    Many listening to Monday's meeting say the MTA is actually laying the groundwork for a bailout plan that would include tolls on at least some of the East River bridges that are currently toll-free, a development first reported exclusively by CBS 2:

    "We've been critical of the MTA in the past, but now they're telling the truth and they are in bad bad shape. Big fare hikes and service cuts are not the way to go but bridge tolls and payroll taxes are possibilities. A 20 percent fare hike would be bad news for everybody," said Gene Russianoff of the Straphanger's Campaign.

    The bridge tolls may be proposed on perhaps two of the four crossings, but perhaps exclusively to the morning or afternoon rush. Whatever shape it takes, drivers taking the Brooklyn Bridge Monday morning were sputtering mad:

    "I think it's too much, there are too many charges now…it's totally just another added burden. it's ridiculous," said Brooklyn resident Henry Quamie.

    "It's too much, I'm already financially burdened. I can't take anymore," said Dorrette Patterson.

    As CBS 2 reported in an exclusive report on Friday, extending tolls to some or all of the East River bridges is part of the bail-out plan being considered for the MTA:

    "We already have tolls at the Battery Tunnel, Midtown Tunnel, and the Triborough Bridge. Let's put pricing on all of the crossings in between," said transit expert Sam Schwartz.

    The MTA already had projected a $900 million deficit when it presented its tentative $10 billion budget in July, and that was before the financial collapse on Wall Street.

    Monday's meeting is meant to set the stage for potential fare and toll increases as well as service cuts. The bridge tolls may be only on two of the four crossings, or may only be during morning and afternoon rush

    Nearly half a million cars go back and forth over the Brooklyn, Manhattan, Williamsburg and 59th Street bridges every day for free.

    "People coming into the city should be paying for some of the service they get," Schwartz said.

    Tolling all four bridges may be a heavy lift for Mayor Michael Bloomberg right now, which is why it's possible tolls could be put on just two.

    Another option is to have tolls only during morning and evening rush hours.

    Sources say putting tolls on all four spans could raise almost $1 billion for mass transit.

    "That's crazy," said Alex Shaw of the Bronx. "We're taxed enough. They've got to get the money from someplace else. Stop putting it on the motorists."

    Added James Yglesias of Brooklyn Heights: "You can't punish us for driving."

    "For me, it's not good," said Jorge Morena.

    Surprisingly, not everyone is against the new tolls.

    "People that don't live in the city should pay a little bit extra," said Debrah Levy of Greenwich Village. "People that are in the city need the break on the subways."

    "I don't like it at all. I think that's ridiculous, but I mean, hey, if it's going to better our city in any way," said Torey Guite of Flatbush.

    "I wouldn't be in favor of it, but if this is something we have to do to stimulate the economy then I'm all for it," added Angela Grant.

    But it may not stop with the East River tolls. A top transit source told CBS 2 HD the mayor's full congestion pricing plan is also back on the table.

    On Monday, the MTA will reveal just how much in the red it really is.

    Even with the East River tolls, a fare hike on bus, subway and commuter rails is expected.

    A poll roll tax on employers is also being considere
  2. I love New York, but the city would honestly be better off it it declared bankruptcy.
  3. "I actually voted for the war, before I voted against the war!" ROFLMAO, my response to the fine lady quoted, "Yes, dear, the pick-pocket is actually HELPING you have a lighter load to walk around with." ROFLMAO - the world is upside down - taxes are good - capitalism - bad...ROFLMAO
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    Good luck trying to cut programs. Higher taxes are guaranteed to pay for future obligations. I wouldn't bet on foreigners to always be savers.

    "As GM Goes, So Goes the Nation."
  5. Amazing. What if regular workers acted like that.

    "Yeah, you know...My income isnt quite sufficient anymore, so Im going to make you pay me 20% more now."