alt Hacker News> Look at the financial reports yourself
I have for the toll roads I drive on. It shows the debt payments being paid by the toll revenues, not other state taxes.
> In EVERY CASE of a failed toll road the major bond holders have all been made whole through the state directly or indirectly.
Sure, the toll agencies are ultimately a creature of the state but it's incorrect (a lie?) to argue it's funded primarily, originally through tax dollars, at least for the toll roads I drive on. What's the rate of these failures? What's the actual percentage of these bonds being paid by toll revenues versus failing and the states being on the hook? Once again you said it's primarily and originally. Being paid because the bond failed to be paid back by toll revenues isn't the original payment plan, and unless it's happening most of the time it's not the primary way of those bonds being paid.
> make something that simply should be public, private
The toll roads I'm talking about are public.
> address this "viewpoint."
This "viewpoint" is otherwise known as "reality".
>I have for the toll roads I drive on.
Link me so I can draw some circles for you.
> to argue it's funded primarily, originally through tax dollars
Do you know how bonds work? It's an isomorphic operation. A state entity is issuing bonds out to creditors. A lot of those major creditors will also be secured creditors.
It's the same thing, just covered under a sleight of hand trick.
So the state borrows money from a select few major creditors but it's "wink wink" not against the full faith and credit of the state, then regulates a consumption tax on the road, and the investors and authority get a slice of the pie.
For what purpose?
And when the toll roads fail either the creditors are paid out either through the state out right buying the road or allowing the debt to be a tax write off over X amount of time.
>This "viewpoint" is otherwise known as "reality".
This American brainworm is exhausting, ngl. Buddy you're getting bamboozled by a few vocab words and a 3 step accounting trick, please don't presume to talk to anyone about reality.