Skip to comments.Highway Trust Fund: Not Just For Highways, Out Of Money So Not A Fund, And Can't Be Trusted
Posted on 05/01/2014 3:00:19 PM PDT by TurboZamboni
It has become a congressional slush fund, in which almost half the money is ladled out through the corrupt system of congressional earmarks. The next time you drive on a highway which is named after a politician, think corruption. Time to shut it down. The proceeds of the tax should be automatically remitted to state governments, or better yet, regional planning agencies. And regulatory barriers to privatization strategies should be repealed. Were broke. We can no longer afford to be stupid.
(Excerpt) Read more at forbes.com ...
The “highway” fund may be broke but look at all the great bicycle paths, public art and mass transit that those funds have provided.
‘Get ready to crumble. The federal highway trust fund, which finances upwards of 80 percent of all highway and transportation infrastructure projects, will be out of money in August.’
How convenient. The Federal Highway Use Tax is due August 31, 2014. (Form 2290)
That is paid on EVERY commercial vehicle on the road in the US. That should replenish the coffers. IMHO, this ‘news’ is to rile em up to raise more taxes.
sounds like Social Security going into the general fund. How much money deducted for Social Security is used for legitimate Social Security expenses? The answer would surprise us all, IMO.
BIG GOVERNMENT IS CRONY SOCIALISM
Socialism Is Legal Plunder - Bastiat
Personally, I AM THRILLED that Tea Party people will soon be paying 20 cents per mile (or $2,000) to drive on what are now FREEWAYS.
You guys BITCHED and BITCHED about paying 20 cents PER GALLON for gas, or about $100 per year (for 10,000 miles) - and you guys would NEVER tolerate increasing the gas tax, regardless of the FACT that it buys no more than half of what it did 20 years ago.
So you have YOUR ANSWER, the Interstates will now be TOLLED, and you guys will PAY THROUGH THE TEETH to drive...all because 10 cents a gallon was too much for you.
Sorry if I sound like a troll here - but I DO NOT like paying an additional $2,000 per year to drive, and I blame the NO NEW TAX bunch for the increase.
There would have been enough money in the highway fund, if it wasn't being spent for other things.
Even if the gas tax had been raised, the new money would have gone to new green incentives rather than fixing roads.
Getting the toll booths installed is a political goal, having nothing to do with financial requirements. Increasing the gas tax would have been politically possible, if the politicians had been at all believable that the money would have gone to fixing roads instead of for bike paths and turtle crossings.
” Increasing the gas tax would have been politically possible, if the politicians had been at all believable that the money would have gone to fixing roads instead of for bike paths and turtle crossings.”
Considering that we haven’t given them a chance in 20 years, I guess the $2,000 PER YEAR in tolls is our medicine then...
The proceeds of the tax
I’m shocked Forbes doesn’t tell the TRUTH to the masses,
There is no such thing as “Tax Proceeds” at the Federal Level. All receipts are used to PAY OFF Previously Issued Debt(Federal Reserve Notes), ALL SPENDING, and therefore All MONIES Spent is and was Freshly Created by an Act of Congress. That’s how the system works, it is and has been for a very long time, one Giant Ponzi Scheme. Remember ALL Spending comes with INTEREST, which is why One must Borrow More Every Year to keep the ball rolling, otherwise Instant Bankruptcy Happens, see Nixon 8-15-1971. Isn’t a Debt Based Monetary System using Fractional Reserves great??
Obama wants to make all Interstate Highways TOLL ROADS.
Grey Davis, the Calif governor who was recalled & replaced by Schwarznegger, emptied the gas tax fund more than once in Calif. He literally put in IOU’s, and put all that money into the General Fund, where it went to p[ay for social programs the Democrats are so fond of.
” We can no longer afford to be stupid.”
Sure we can. And we will.
THE LEFTIST MANTRA ON EVERYTHING.
Return it ALL back to the states and be done with the FEDS.