Submitted by King-of-New-York t3_zyugzv in nyc
pixel_of_moral_decay t1_j29wg24 wrote
Reply to comment by Bangkok_Dangeresque in Citi Bike bumps up prices by 11% starting in the New Year | amNewYork by King-of-New-York
The city could look to use tax dollars to subsidize it. Shift the top tax brackets up to 2.5% and increase everyone over $150k and you'd have that plus some extra money for schools.
Bangkok_Dangeresque t1_j2a15td wrote
Sure, the city could raise income taxes to fund whatever it wants. Though it already has some of the highest individual state and local income taxes in the entire country.
But for Citibike in particular this is a terrible idea. The city shouldn't be subsidizing private companies that are perfectly capable of funding themselves, especially considering the public benefits they already get
In addition, Citibike had about 100,000 daily riders at its pre-pandemic peak. Meanwhile, the city has about 4 million households subject to city tax, ~25% of which have household incomes at or above the $150k threshold you're suggesting, so about 1 million households would be subsidizing the daily transit of 100,000. That's inefficient, and that money would be far better spent on other transit projects with more reach.
Lastly, hundreds of thousands of households who might be subject to that tax live in the large sections of Queens, Brooklyn, and all of Staten Island that are not served by Citibike at all. This is not equitable.
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