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Old 01-09-2007, 07:56 PM
 
Location: Old Town Alexandria
14,506 posts, read 23,177,711 times
Reputation: 8829

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It was reported tonight that toll profits in Philadelphia and New Jersey Tpke. are being sold out to private investors. Taxes and projected fees paid by Americans will now be sold to the country with the highest bidder. Australia and Spain are negotiating with Bush admins to acquire these rights. Many other states are clamoring for investor attention. There is a great deal of profit to be made from these infrastructres.

This was reported this evening by Lou Dobbs.
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Old 01-09-2007, 08:03 PM
 
597 posts, read 1,785,841 times
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Yes, I'm a huge fan of Lou Dobbs and when I heard that story it made me crazy. For one thing, I HATE toll booths. Period. But, it would infuriate me even more to know that my money was going into the pockets of a foreign government or company and not the local communities. I stil can't wrap my mind around the logic of this administration that wanted to outsource our ports to an Arab country. Bunch of idiots...
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Old 01-10-2007, 01:49 AM
 
Location: Tennessee
1,459 posts, read 4,040,439 times
Reputation: 876
Quote:
Originally Posted by sunnyhelena View Post
It was reported tonight that toll profits in Philadelphia and New Jersey Tpke. are being sold out to private investors. Taxes and projected fees paid by Americans will now be sold to the country with the highest bidder. Australia and Spain are negotiating with Bush admins to acquire these rights. Many other states are clamoring for investor attention. There is a great deal of profit to be made from these infrastructres.

This was reported this evening by Lou Dobbs.

A lot of our toll roads are already owned by private investors. Toll roads are a cash cow but many are expensive to maintain.
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Old 01-10-2007, 10:20 AM
 
Location: Old Town Alexandria
14,506 posts, read 23,177,711 times
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But doesn't that mean our tax dollars are going to foreign governments, instead of helping the states??. More and more bidding is occurring, and this cash cow is something many countries want a piece of. It has not all been sold off, but the Bush Admins are looking into this. This was according to Lou Dobbs last evening.
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Old 01-10-2007, 10:58 AM
 
Location: Tennessee
1,459 posts, read 4,040,439 times
Reputation: 876
Quote:
Originally Posted by sunnyhelena View Post
But doesn't that mean our tax dollars are going to foreign governments, instead of helping the states??. More and more bidding is occurring, and this cash cow is something many countries want a piece of. It has not all been sold off, but the Bush Admins are looking into this. This was according to Lou Dobbs last evening.
You are correct sunny, once a state sells its toll ways to private investors they reap no more benefits from it. I don't see how states are allowed to sell toll ways in the first place without a vote from the people, they were built with our tax dollars. Here's a short article on this.





Roads and bridges built by U.S. taxpayers are starting to be sold off, and so far foreign-owned companies are doing the buying.

On a single day in June, an Australian-Spanish partnership paid $3.8 billion to lease the Indiana Toll Road. An Australian company bought a 99-year lease on Virginia's Pocahontas Parkway, and Texas officials decided to let a Spanish-American partnership build and run a toll road from Austin to Seguin for 50 years.

Few people know that the tolls from the U.S. side of the tunnel between Detroit and Windsor, Canada, go to a subsidiary of an Australian company which also owns a bridge in Alabama.

Some experts welcome the trend. Robert Poole, transportation director for the conservative think tank Reason Foundation, said private investors can raise more money than politicians to build new roads because these kind of owners are willing to raise tolls.
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Old 01-10-2007, 11:07 AM
 
Location: Old Town Alexandria
14,506 posts, read 23,177,711 times
Reputation: 8829
Thanks for that article. Isn't this a serious security issue?- I mean it reminds me of the ports we sold off in Miami/Ft Laud and California to U.A.E. All done by the administration, and U.S. citizens were unaware, of course- until the media reported it- This is frightening bcs what about everything we AREN'T being told.

sunny
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Old 01-10-2007, 11:44 AM
 
Location: Tennessee
1,459 posts, read 4,040,439 times
Reputation: 876
Quote:
Originally Posted by sunnyhelena View Post
Thanks for that article. Isn't this a serious security issue?- I mean it reminds me of the ports we sold off in Miami/Ft Laud and California to U.A.E. All done by the administration, and U.S. citizens were unaware, of course- until the media reported it- This is frightening bcs what about everything we AREN'T being told.

sunny

It certainly does deal with security issues, here's a article dated 12-29-06 on the New Jersey sale.

http://newjersey.indymedia.org/en/2006/12/12959.shtml (broken link)
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