DEAR EDITOR:
My main concern about the California High Speed Train is not
what route will be chosen, but whether or not it will be some giant
money sucking machine that will only benefit the politicians and
state workers who will be paid very nice wages and benefits.
DEAR EDITOR:
My main concern about the California High Speed Train is not what route will be chosen, but whether or not it will be some giant money sucking machine that will only benefit the politicians and state workers who will be paid very nice wages and benefits.
I doubt the train can be a good investment because of what I see as the following problems and questions. If I believe the backers of the train, it will cost around $50 billion to build the full system about 600 miles long (a cost per mile of $83.3 million). The claim is that 42 to 68 million riders per year will use the train and bring in about $1 billion in fares and return 30 percent ($300 million) to the state each year. I see the following problems with this “rosy picture” painted by the backers: If the system does only cost $50 billion to build (doubtful, given the construction and cost record for other state projects), the cost of these bonds will be around $90 billion over a 20-year period. This means the amount needed just to pay for the bonds each year would be $4.5 billion.
At 42 million riders it would take an average fare of $107 or an average fare of $66.18 at 68 million riders just to pay the bonds off. This means that the average commuter (around 175,000 daily and the reason given for building the system) would have to spend $23,540 a year to use the train, just to pay off the bonds and this would not include the cost of the day-to-day expenses. Since no commuter will pay this amount the real cost will come out of the California taxpayer’s pockets, and we will end up subsidizing 90 percent of the cost. If the trains are to provide commute service I don’t see how you could have more than about 8 in the morning (requires about 1,200 passenger cars) and get people to work on time. I wonder about the parking required, load, unload time, train station size, etc.
The logo of the California High Speed Authority is a train and the term “Fly California without ever leaving the ground.” The taxpayers had better make sure this train is going to be used, is affordable and not a gold plated Albatross around the neck that will do nothing but drain the state treasury. The politicians want a 1/4 percent sales tax to support the system, which convinces me that for every dollar paid in fares it will take another $10 in taxes to subsidize the riders.
Before we burden 20 million taxpayers to benefit the projected 200,000 train users, we had better take a closer look. The high speed train could be just another of the grand promises by the politicians that is nothing but a gold plated version of the VTA or Amtrak.
Jim Hallum, Gilroy
Submitted Thursday, June 3 to ed****@****ic.com
