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[quote user="Paul Milenkovic"] Japan may have given greater priority to public infrastructure projects such as this, and I understand they have ratios of public debt to GNP that make ours look good to show for it.  [/quote] Indeed, Japan's national debt was 150 per cent of GDP as of March 2007.  It has fallen somewhat since then.  By comparison the U.S. national debt is approximately 77 per cent of GDP.  With the anticipated increases in the federal deficit for FY 2009, it will be approximately 87 per cent of GDP.  When state and local debt is added to the mix, government debt in the U.S. will be approximately 101 per cent of GDP at the end of FY 2009.  The Japanese have one of the highest income tax rates in the world.  Their top marginal tax rate is 50 per cent whereas the U.S. rate is 35 per cent.  When local taxes, which are embedded in the Japanese rates, are added to the U.S. rate, the top marginal rate is over 40 per cent but well below 50 per cent.  A one for one comparison is difficult because of different tax structures in Japan and the U. S., but the Japanese, like most European countries, pay considerably higher taxes than the U.S.  This is how they pay for their vaunted passenger rail systems.      Japan has been in an economic slump since 1990, in part due to a banking failure, high savings rates, and high taxes.  Its GDP grew only slightly from 1990 to 1999, with no growth from 1999 to 2006.  I don't want to see the U.S. economy emulate the Japanese economy. America can build all the HSR that its advocates desire as long as its citizens, including the advocates, are willing to pay considerably higher taxes.  HSR cannot be built or operated without massive infusions of government monies.  I don't believe most people want to go that route.
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