http://norunnyeggs.com/2006/11/meet-the-new-route-same-as-the-old-route/ The repository of one hard-boiled egg from the south suburbs of Milwaukee, Wisconsin (and the occassional guest-blogger). The ramblings within may or may not offend, shock and awe you, but they are what I (or my guest-bloggers) think. Sat, 11 Feb 2012 02:40:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://norunnyeggs.com/2006/11/meet-the-new-route-same-as-the-old-route/comment-page-1/#comment-29536 No Runny Eggs » Blog Archive » “Financing” the local portion of the commuter choo-choo Fri, 22 Dec 2006 14:13:09 +0000 http://norunnyeggs.eggstor.com/?p=735#comment-29536 [...] The “geniuses” behind the KRM white elephant, er, commuter rail have a real wiener of an idea to finance this albatross: a 0.05% sales tax in Milwaukee, Racine and Kenosha Counties to provide $8 million per year. Let’s see; assuming their numbers are right (and they’ve been previously blown up), they start the project $157 million in the hole (assuming no additonal fed funding; the 90% fed funding they want would still leave them $23.7 million short) and have to make up $10.9 million per year in the difference between fares and operating costs. Oops; last time I checked, you can’t do that on $8 million/year, and that’s assuming the Craps’ Department of Revenue coughs up all the money due this latest unelected taxing authority (something they have a problem with). Guess those “other funding options” will inevitably creep back into the mix. [...] [...] The “geniuses” behind the KRM white elephant, er, commuter rail have a real wiener of an idea to finance this albatross: a 0.05% sales tax in Milwaukee, Racine and Kenosha Counties to provide $8 million per year. Let’s see; assuming their numbers are right (and they’ve been previously blown up), they start the project $157 million in the hole (assuming no additonal fed funding; the 90% fed funding they want would still leave them $23.7 million short) and have to make up $10.9 million per year in the difference between fares and operating costs. Oops; last time I checked, you can’t do that on $8 million/year, and that’s assuming the Craps’ Department of Revenue coughs up all the money due this latest unelected taxing authority (something they have a problem with). Guess those “other funding options” will inevitably creep back into the mix. [...]

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