Infrastructure: Here’s what Robert Moses would do today

by Sandy Ikeda

Mid-Manhattan Expressway
(Map by “vanshnookenraggen.”)

With your indulgence, I’ll get to my main point, and this map, in a moment.

But first, as we all know, the House has just passed a special ex post tax on bonuses awarded to individuals working for companies that received bail-out money. (One egregious violation of the rule of law deserves another then?) Over at Marginal Revolution they’re blogging about one really bad consequence of this hasty piece of policy-making: It seems that any family earning more than $250K with a member connected to a bailed-out institution will be marginally taxed at 90%. If it passes, I’m sure this in turn will give rise to further interventions as Congress tries to deal with THAT snafu (assuming the Supreme Court doesn’t overturn it).

The AIG fiasco is just one, economically insignificant but politically sensitive, instance of the countless unintended consequences that we should expect in the coming months and years issuing from the various bailouts and stimuli. Continue reading