Monday, July 14, 2008

Sales Tax Money For RTD

Keep this in mind every time you buy something.

Denver Post :

FasTracks is the nation's largest transit expansion program, one that metro Denver voters backed in 2004 when they approved an additional 0.4 percent sales tax to build the project. The increase was on top of the 0.6 percent sales tax that RTD relies on to run the bulk of its existing transit system.


leany said...

Fuel costs are not only dramatically impacting family incomes, but also organizations like RTD that heavily rely on fuel to operate. Families that used to have money available to purchase discretionary items that are subject to RTD sales taxes are no longer able to spend as freely. Purchases are down, sales tax revenues are down and the trend continues.

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Allen said...

Leany, where do you see that that sales tax revenues are down? According to Metro Denver Economic Development Corporation (Metro Denver EDC) metro Denver retail sales were up 4.1% the first half of this year. That's right, they're not dropping.

The key in this situation is to realize that RTD is complaining that sales tax revenues are not meeting RTD's projections. But that shouldn't be surprising. They didn't project a single recession in 20 years.