Comments on: Job creation: Fixing America with an infrastructure bank http://blogs.reuters.com/reuters-wealth/2011/08/05/job-creation-fixing-america-with-an-infrastructure-bank/ Fri, 05 Dec 2014 11:27:18 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: johnwasik http://blogs.reuters.com/reuters-wealth/2011/08/05/job-creation-fixing-america-with-an-infrastructure-bank/comment-page-1/#comment-7322 Tue, 09 Aug 2011 01:37:45 +0000 http://blogs.reuters.com/reuters-money/?p=17901#comment-7322 An iBank is a public-private entity that would leverage government funds and private dollars from endowments, pension funds, etc. for infrastructure projects. The bank would be transparent, somewhat independent of the political process with its own trustees and operate in the public interest. Projects would be selected objectively and perhaps chosen for their expected utility and proximity to population centers.

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By: GLsword http://blogs.reuters.com/reuters-wealth/2011/08/05/job-creation-fixing-america-with-an-infrastructure-bank/comment-page-1/#comment-7297 Mon, 08 Aug 2011 01:16:57 +0000 http://blogs.reuters.com/reuters-money/?p=17901#comment-7297 Fuel taxes and toll roads are two good examples that work as long as daGubamint doesn’t cook the books. As a Libertarian I am often get accused of being an anarchist. That isn’t true. There are some things that DO require collectivist action.

A dozen “private” bridges crossing the river makes even less sense than having three sets of electric, water and sewer lines connected to every building. Sadly the power of corruption always ends up steering these ideas off course. Just like the 20 or so percent of highway funds being used for Intermodal and other Mass Transit pet projects while railroads pay property taxes on their facilities to support education …

User fees only work if the system is transparent and the users of the “service” are the only ones who have access to the revenue collected.

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By: 1159pm http://blogs.reuters.com/reuters-wealth/2011/08/05/job-creation-fixing-america-with-an-infrastructure-bank/comment-page-1/#comment-7295 Sun, 07 Aug 2011 21:18:40 +0000 http://blogs.reuters.com/reuters-money/?p=17901#comment-7295 Why involve the government? Why privatize? Both segments have show a propensity for unbridled greed, corruption, incomprehension of the idea of “conflict of interest”.

When the culture gets guts enough to hold such behaviors in unwavering contempt, this can be done easily. Willingness to govern on behalf of the “flesh and blood” citizens must take precedence over the governance mainly for “eternal, paper and ink CORPORATE” citizen’s benefit.

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By: iThink2 http://blogs.reuters.com/reuters-wealth/2011/08/05/job-creation-fixing-america-with-an-infrastructure-bank/comment-page-1/#comment-7291 Sun, 07 Aug 2011 19:36:15 +0000 http://blogs.reuters.com/reuters-money/?p=17901#comment-7291 So jtknop, you expect the private sector to build bridges and water treatment plants? There are somethings only governments can do.

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By: Trinhou http://blogs.reuters.com/reuters-wealth/2011/08/05/job-creation-fixing-america-with-an-infrastructure-bank/comment-page-1/#comment-7290 Sun, 07 Aug 2011 17:40:58 +0000 http://blogs.reuters.com/reuters-money/?p=17901#comment-7290 So now the government needs to BE a bank? What part of “taxpayers ultimately pay for infrastructure” doesn’t this author understand? Congress has, for the past 40 years, systematically robbed the money which should have been used to update and replace infrastructure, year by year, social program by social program. The tax revenue benefits from the buildings, roads, bridges and dams that were built 40, 60 and 80 years ago are long gone. Noticing today that infrastructure has been neglected for 40 years hardly makes it a great idea to start fixing it now. Sure, it needs to be done, but not before the government gets a major overhaul. Business as usual is washing this country down the sewer fast. A serious start would be for the government to divest itself of the USPS, at auction, to the highest bidder. Collect rent from all existing postal facilities for one year, then sell every last piece of real estate owned by the Postal Service at the end of exactly one year. That would only buy the US some working capital, but it would be a start. Ibank, my ibutt.

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By: hindumuninc http://blogs.reuters.com/reuters-wealth/2011/08/05/job-creation-fixing-america-with-an-infrastructure-bank/comment-page-1/#comment-7281 Sat, 06 Aug 2011 20:17:15 +0000 http://blogs.reuters.com/reuters-money/?p=17901#comment-7281 An infrastructure bank (which this article does nothing to explain) is a method for moving expenditures off budget. They say they can turn $10 billion into $640 billion but what they leave out is that the government then agrees to pay back that $640 billion with interest. You know, like selling bonds only they wouldn’t have to raise the debt ceiling.

As a 24 yr old I am shocked that the baby boomers care so little about their children and grandchildren that they refuse to just spend the money (on budget) necessary to repair this nation’s infrastructure. The only way to convince them to do it is to pull this shady back door financing which most of them don’t understand and take the decision making power away from congress and putt it in the hands of bankers. S&P wouldn’t be downgrading the U.S. if they knew all those billions that we failed to cut from the deficit were being redirected into investment that will actually increase the country’s long term economic potential. It’s the fact that we are wasting our money on useless pet projects that refuse to die and can’t put the money where it can do the most good. Oh and let’s not forget that Baby Boomers refuse to pay higher taxes today and expect their children and grandchildren to pay back all the bills (including Social Security and Medicare) that they are running up. Thanks guys.

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By: jtknop http://blogs.reuters.com/reuters-wealth/2011/08/05/job-creation-fixing-america-with-an-infrastructure-bank/comment-page-1/#comment-7275 Sat, 06 Aug 2011 18:44:05 +0000 http://blogs.reuters.com/reuters-money/?p=17901#comment-7275 A better idea would just be to privatize so we don’t have to worry about government corruption and incompetence to take care of our national infrastructure. All this proposed iBank will result in is funneling money to construction companies and engineering firms that are well connected and lobby for the projects. Why do so many people think that the government has to be part of the solution to anything that is wrong? All increasing government involvement does is decrease competition and increase corruption.

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By: MikeDelMar http://blogs.reuters.com/reuters-wealth/2011/08/05/job-creation-fixing-america-with-an-infrastructure-bank/comment-page-1/#comment-7274 Sat, 06 Aug 2011 18:34:18 +0000 http://blogs.reuters.com/reuters-money/?p=17901#comment-7274 There is a tremendous need for infrastructure improvement, there is little risk of displacing private economic activity in a slump that has lasted for years and there are armies of the unemployed. The private economy is not going to generate jobs until the economy deleverages– as Rogoff and Reinhart have shown this is going to take years from now. The US has had many private/public partnerships over its history and some very successful–in the current political climate, people have forgotten about them. This program can create jobs and improve our infrastructure in a period in which we desperately need both. Excellent column.

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By: deVries http://blogs.reuters.com/reuters-wealth/2011/08/05/job-creation-fixing-america-with-an-infrastructure-bank/comment-page-1/#comment-7273 Sat, 06 Aug 2011 17:58:25 +0000 http://blogs.reuters.com/reuters-money/?p=17901#comment-7273 “Not even Harry Potter can make magic work on the U.S. economy without some significant infrastructure investment.”

Sure, just swish & flick… 😉

What is an iBank?

Is that a code word for Apple or Toll Roads & Toll Bridges?

I don’t want private financial rulers taking control of our public infrastructure, no way!

Let’s be responsible: Pay for what you build & built in the public domain… that’s called Federal Income Taxes AND, also, the additional tax we ALREADY pay every time we buy a gallon of gas! Duhhh!

iBank? Just one more taxing authority we don’t need, ever! Just another financial scam in the making…

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By: upstater http://blogs.reuters.com/reuters-wealth/2011/08/05/job-creation-fixing-america-with-an-infrastructure-bank/comment-page-1/#comment-7263 Sat, 06 Aug 2011 11:49:44 +0000 http://blogs.reuters.com/reuters-money/?p=17901#comment-7263 Sounds like a way to assume even more indebtedness to the bankster class.

What is wrong with a carbon tax???

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