The ‘Great Train Robbery’ sequel – Latest News
California is placing collectively a new model of the 1903 film “The Great Train Robbery,” one of the great movies of the silent period.
Except this time, within the sequel, the prepare robs you, not the outlaws.
The California High-Speed Rail Authority (CHSRA) desires to “capture” some of the native tax income in Central Valley cities that the bullet prepare is meant to journey via (whether it is ever completed).
The Merced Sun-Star stories that the high-speed rail desires to take “a portion of the rise in property and sales tax revenues — known as tax increments — created within a half-mile of a station by the bullet train project.”
The California High-Speed Rail Authority (CHSRA) desires to “capture” some of the native tax income in Central Valley cities that the bullet prepare is meant to journey via (whether it is ever completed). AP
The Merced Sun-Star stories that the high-speed rail desires to take “a portion of the rise in property and sales tax revenues — known as tax increments — created within a half-mile of a station by the bullet train project.” REUTERS
The prices of the high-speed rail project have exploded, from $33 billion in 2008 to over $230 billion at present.
That money has to come back from someplace. California can’t print it, and President Donald Trump gained’t ship any more.
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So the cash-hungry CHSRA desires a piece of native taxes.
And the mayors are livid — as they need to be, at being compelled to subsidize the failing project.
The prices of the high-speed rail project have exploded, from $33 billion in 2008 to over $230 billion at present. Getty Images
CHSRA argues that as a result of high-speed rail will improve native property values and increase financial exercise, the “bullet train” ought to get a cut of the motion.
But it’s not clear that the high-speed rail will improve something.
As The California Post reported in February, some cities are already affected by the construction.
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Residents complain that CHSRA is grabbing native property. Local business house owners fear that new overpasses will cut off entry for patrons.
The high-speed rail can be destroying historic neighborhoods in Fresno. And some of the smaller cities alongside the route gained’t even expertise any benefit, as a result of the prepare gained’t stop there.
Getty Images for Baby2Baby
And all of this harm earlier than a single inch of observe is laid, or a single ticket bought.
The complete idea of the high-speed rail taking native tax money reverses the way in which a project needs to be designed and run.
High-speed rail is sensible if it may be run profitably, and entice personal investment.
That’s the thought behind the proposed Brightline prepare between Las Vegas and Southern California. It is predicted to make money as a result of, just like the Vegas monorail, it’s largely one other attraction, not simply a solution to get round.
Once a project is profitable, you may tax it.
But don’t tax native cities, that are already short on money, and have many wants.
In reality, you would save taxpayer money just by canceling the prepare.
