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ST has spent about $5 billion so far. $3.5 billion in tax revenue, $500 million in Federal grants, and $1 billion in bond sales proceeds. That should mean it has created 192,500 jobs. Not in your wildest transit wet-dream has ST's spending of billions of dollars come close to being the kind of job creation engine that APTA study suggests it should have been.

Posted by ding dong | October 29, 2008 2:07 PM

@1: Federal money.

Posted by AJ | October 29, 2008 2:35 PM

whats the difference between federal money and state money if the multiplier effect comes down to a dollar period? Is federal money somehow magical?

Posted by Bellevue Ave | October 29, 2008 2:59 PM

Mass transit is not sustainable.

Posted by John Bailo | October 29, 2008 3:04 PM

Regardless of how revenue is collected, I just don't get how King County is teeming with multimillionaires (thanks Microsoft, Nintendo, other high tech), yet county government and its services are in such a deep financial hole.
From what I've read, transit money troubles are not unique to this region. Transit agencies throughout the country are operating under budget deficits.

Posted by Madashell | October 29, 2008 3:04 PM

@5, cause we don't have a state income tax and rich people don't spend money at a rate proportional to their incomes. they have a propensity to save and invest.

would a state income tax be good? Maybe.

Posted by Bellevue Ave | October 29, 2008 3:10 PM

well rather a county income tax, but i'd like to see them try it.

Posted by Bellevue Ave | October 29, 2008 3:16 PM

@6 - actually, rich people have a propensity to save here and spend in other countries.

A transaction tax on assets would work better.

Posted by Will in Seattle | October 29, 2008 4:57 PM

There would have to be a constitutional amendment before even the state could pass an income tax. The county is even more limited in its taxing ability, which it has already used up. That's why they have to cut services. State law does not allow them to raise taxes.

Posted by lorax | October 29, 2008 9:16 PM

@9 - not true. Our state constitution permits a flat one percent income tax with a single basic exemption (e.g. for a personal home or something).

Maybe the Socialist Republicans will propose that, with an exemption for money stolen from the middle class by their party elites.

Posted by Will in Seattle | October 30, 2008 12:48 AM

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