Reading the discussion on http://news.ycombinator.com/item?id=1069703 got me thinking about the fiscal crisis I keep seeing transportation authorities having. Both the MBTA (Massachusetts Bay) and MTA (NY Metro) systems, in my area of the world, have staggering debt and frequent problems, and I've heard about similar problems elsewhere.
From what I can tell, their main sources of revenue are vehicle / station advertising, fares, and in-station rents for business venues.
How would you improve or add to these revenues?
Update: There's a lot of (possibly justified) cynicism in some of the responses received so far. Maybe a better way of looking at this is:
How would you have public transit create more value?
Another necessary policy shift is ceasing to discourage transit-supportive density. Most American cities have wide swathes of land zoned for single-family housing. If everyone is forced to spread out by their government, it will be harder to provide high quality mass transit. This is even worse when you have neighborhoods full of culs-de-sac, which I think should be outlawed, or at the very least they shouldn't be maintained with public funds as they are effectively private driveways that make the street network function more poorly.
Cities also often tax density by requiring large developments to provide a certain amount of funds for affordable housing. Dense developments make housing more affordable in the areas where people want to live by supplying more of it without a commensurate effect on demand. Single-family housing rarely has the same requirements. We shouldn't be taxing the things that make our transit systems work better and provide more affordable housing than the alternatives. Most zoning should be abolished.
[1] http://www.everybodyridesmetro.org/
[2] http://www.austinchronicle.com/gyrobase/Issue/story?oid=oid:...