Free public transit as a stimulus package would:
- grease the wheels of commerce
- have the effect of a minimum wage increase
- reduce the need for expensive oil wars
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Thursday, January 24, 2008
The best fiscal stimulus:
Free public transit is the best fiscal stimulus. Tax cuts/rebates have a multiplier of 0.7, unemployment benefits are 1.7, whereas public transit investment has been estimated to have multiplier of 9.0.
Free public transit as a stimulus package would:
Free public transit as a stimulus package would:
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4 comments:
Great information! I'd like to use this-- what is the source?
The first two from Economy.com the last from a conference of "environmentalists for public transit" at Villanova about 7 years ago. We will post the links when we find them. These are estimates by economists and subject to the one hand and the "other" hand. But it is intuitive that we should stop subsidizing something as wasteful as the private auto. Thanks for your interest. Please send us a post on your work - info@freepublictransit.org
Here is a link to an article referencing the 1.7 multiplier from Moody's Economy.com study... our mistake it was Unemployment benefits not food stamps...
http://news.moneycentral.msn.com/category/topicarticle.aspx?feed=AP&Date=20080119&ID=8060401&topic=TOPIC_ECONOMIC_INDICATORS&isub=3
We are still looking for the environmental group that claims 9.0 multiplier. Meanwhile see the new post on the claims of 3.2 and 3.0. Still dramatically better that tax cuts.
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