I like O'Neil's plan for eliminating bus fares better than Yaroslavsky's proposal to reduce fares to 50 cents. Reducing fares during peak hours will only overcrowd the buses. A free-fare policy would necessitate increasing buses, improving service, and lining up the revenues to make the public transit work.
We will all be a lot better off if it's possible to get around Los Angeles without a car. Free fares would provide the most powerful incentive.