Should you pay more taxes if you live near the subway?

New York

EVER since August Belmont Jr arranged the financing for a four-track "underground railroad" more than a century ago, the subway has fuelled New York City's economy, delivering workers from homes in distant neighbourhoods to jobs in Manhattan - and enriching landlords and real estate developers near stations.

Today, with the subway in precipitous decline and the city enjoying an economic boom, some policymakers think that the time has come for the subway to profit from the financial benefits that it provides, including its considerable contribution to property values.