Today’s Headlines

  • ‘Substantial’ Fare Hike Coming in 2009 (NYT, News, Post, NY1)
  • Subway Delays Up 24 Percent in 2008 (Sun, NYT, News)
  • MTA Ponders More Skip-Stop Service to Improve Peformance (AMNY)
  • Blame for MTA Woes Falls Squarely on Albany (2nd Ave Sagas)
  • Ford Shifts to Producing Smaller Cars (NYT)
  • New Pier 40 Plan Still Includes Public Parking (Post)
  • Parking Rules — and Tickets — Back in Effect in Park Slope (Bklyn Paper)
  • Some Chicago Trains to Go Seatless During Rush Hours (Tribune via Planetizen)
  • Environmental Review May Hold Up CT Commuter Rail Project for Two Years (Courant)
  • Larry Littlefield

    Suddenly Russianoff is in favor of fare increases.

    But fare increases now won’t get back all the revenues that were foregone in all those years the fare was falling steeply relative to inflation.

    Too late. I prefer bankruptcy.

    The only budget cuts I’m prepare to go along with are debt service, pensions, and retiree health care. Get rid of the latter, and perhaps AFCME will come around and be in favor of an equitable national syustem.

    The only tax increase I’m in favor of is making retirement income subject to the same state and local income taxes as wage income.

    It’s time for those who have taken everything to give up something.

  • Larry Littlefield

    Moreover, to understand the MTA’s financial situation, you have to look at the big picture. New York State and New York City are going broke, and the Governor has admitted.

    Business tax revenues have collapsed.

    Personal income tax revenues are up, because of bonues paid this year based on Wall Street’s situation last year, and everyone rushing to take any and all capital gains at the current low tax rate.

    Next year there will be no bonuses, and no capital gains. Instead there will be massive losses — which will be written off against any future gains to the point where it will take years to get any personal income tax revenue from that source.

    So Patterson’s plan is to beg Washington, and then blame the federal government when taxes soar and services collapse. The old establishment Democratic Party gambit.

    Well guess what, the rest of the country is MUCH WORSE OFF than New York. I know, I write quarterly economic and real estate reports on metros all around the country. They want to tax us, and cut aid to us, to save themselves, not the other way around. And as for the federal debt, Bush will leave the federal government all but bankrupt as well.

    So after borrowing and enhancing pensions when times were flush, the MTA will be going hat-in-hand in this environment. With all the money prior generations have sucked out off the table. Enough is enough.

  • brent

    Why isn’t a fare hike ever called a tax on the working class by politicians and the media?

  • Why isn’t a fare hike ever called a tax on the working class by politicians and the media?

    You mean, like the way that a congestion charge was branded a tax on the working class (who, of course, read about that while riding the train to work)?

    A little far-fetched to think that the worker-bees of the city ride transit, huh?

  • Bob

    Brent – that sounds like a good letter to the editor or your electeds.