Comments from Scott C. Johnston, who toils in the alternative investment industry. The opinions here are his own and most definitely not those of his employer.
The New York Metropolitan Transit Authority (MTA) demanded & got a rate increase (from $2 to $2.25) last Nov but also an absurd tax on taxis ($0.50 per ride). In May they again demanded another raise which is being debated, even though back in Nov they had assured that raise would be enough in order to get it approved. Of course the MTA continues to give pensions to employees in their late 50s, not unlike Greece; these are $80k+ pensions for train drivers (who are not even real drivers) because they work underground... as if they are West Virginia coal miners... If the MTA with over 4 million riders a day cannot balance its books, what government/governmental agency/public utility/etc ever will??? Instead of spending $28k per child, give parents $14k vouchers. Everyone will be a winner. Especially the underprivileged kids. If you have not seen the 60 Minutes (yes, 60 Minutes!) story on the Harlem Children Zone, take a look (http://www.cbsnews.com/stories/2006/05/11/60minutes/main1611936.shtml) & then you will realize who practices the "soft bigotry of low expectations" President George W Bush spoke about (http://embassyofgrace.net/2010/02/liberal-media-practices-racism-of-lower.html).
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