#FNAA #AAF Your Views Letter to Palm Beach Post. One Citizens - TopicsExpress

#FNAA #AAF Your Views Letter to Palm Beach Post. One Citizens View. All Aboard Florida scams taxpayers Sunday’s article regarding All Aboard Florida’s federal loan “payoff ” only proves what a giant Ponzi scheme it actually boils down to for Florida taxpayers (“Federal loan may pay off rail bond”). This scam is going to saddle Florida taxpayers with a $2.5 billion debt if it is completed, and also require continued subsidies to keep it afloat for years to come. Our famous Tri-Rail has required subsidies for as long as it has been running. Take, for example, the year 2011-12: Tri-Rail’s $84.1 million operating and capital budget was based on $32.1 million from the state, $27.9 million from the federal government, $12.9 million from the three counties and $11.2 from ticket revenue. So, in these densely populated communities, ticket revenue doesn’t even cover 15 percent of operating costs. Florida taxpayers are being scammed by this proposal, but some people will profit as usual in a Ponzi scheme. WILLIAM MCDONALD, ATLANTIS

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