State Comptroller Alan Hevesi says that the MTA can handle a fare rollback, after his examination of their books. Naturally, the MTA argues this, but who can trust them after the MTA was found to have two different financial books, one for the public to paint a sad story and get fare hikes passed, the other for the actual information reflecting a relatively healthy busines.
Hevesi believes there's "enough money to roll back the $2 transit fare to $1.75 through the end of this year and keep open 60 token booths that the authority wanted to close. If the current level of MetroCard discounts remained in place, and if the fare then increased to $2 by the beginning of 2004, the authority would be able to end 2004 with a small cushion."
NY1 investigates the MTA's deliberate financial lying.
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Rates don't need hiking for the MTA to have the kind of profit margins it needs for global domination. Instead, the company could hire the many unemployed in NYC to roam the underground panhandling, playing synthesizers, break dancing, building financial models on Excel spreadsheets--whatever they can do to profit from pity. For too long has the MTA left this lucrative segment of its business model to the bereft.
Remember, they also had two books so they could get concessions from the transit workers' union.
MTA is scamming the NYC public and with the profits they are making, they should lower the fare. The amount of individuals using mass transit can definitely support the operating costs. HELP THE CITIZENS! Everything is going up except our salaries. Give NY a break!