Would you pay $33.33 to fund the 'Subway to the Sea?'
Steve Hymon at the LA Times is asking if anyone out there has any ideas for funding the 'subway to the sea', which is estimated to cost around $5-billion. The scary thing about even just $1-billion is that it equals out to one thousand x one million. So to fund the Purple Line, you've got to dole out $1-million dollars five-thousand times over. Eek!
So here is one crazy idea:
Sure, simple math dictates that 4-million people (roughly the population of Los Angeles) being taxed a one-time fee of $1250 solves the problem. But that's unrealistic for many reasons. So what about breaking it down to something realistic, even if overly simplistic? Spread it out to a 10-year tax and you've got $125/year. 25 years is $50/year. And rudimentary math proves $25 a year per resident means 50 years.
If we are still funding or paying money back for the Purple Line in 50 years, I'm going to shoot myself. Therefore, I'm scratching that idea out of existence.