Sunday, April 1, 2012

From our wallets to theirs

There are all sorts of ways for the 1% to extract dollars from our pockets. Here is one example, according to the Occupy Wall Street blog:

Reduce taxes on the 1% so the Metro Transportation Authority (I think that's what the initials stand for), the people who run the subways and busses, don't have enough money for basic services. The riders pay through higher fees and reduced service. The staff pays through layoffs and greater workload. Seniors and disabled pay because services for them are cut. Poor pay through having a harder time getting to any job they might have. This is supposed to be a service available to the entire public.

The MTA soon needs more money than they get through taxes. The money is needed for both upgrade projects (this underfunding has been going on for 20 years) and to meet standard operating costs. The available solution is to issue bonds. Interest on those bonds sucks a huge chunk out of the MTA budget. Who collects interest from those bonds? The 1%. Who pays the interest? Riders. From our wallets to theirs.

Last Wednesday Occupy Wall Street activists and Transport Workers Union put chains around turnstiles to hold them open, granting free rides to everyone. And in New York, that's a lot of lost revenue.

Newsflash! Goldman Sachs is running for president! No, not some schlub with that name. The investment bank. After all, it is a person. Slogan: "We don't need your money, we already have it." Qualifications: great business acumen, expertise in international relations, and knowledge of security with a proven track record. In addition, it already serves as a de facto government in Spain, Ireland, and Greece. And before this goes any further, check today's date.

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