> On May 20, 2015, at 5:05 PM, Jordan Hayes <jmhayes at j-o-r-d-a-n.com> wrote:
>
> Anyway, I think this is just (one) general downside to privatization: if a NYC medallion is "worth" $1M, shouldn't the city get it (or at least some of it) in the form of an ongoing tax or something, rather than the folks who buy and sit on them?
I don't think they get sat on, but the high price is one reason the drivers are so badly exploited, since it forces up the vehicle rent they have to pay to the owners.