Tuesday, March 16, 2010

Say taxi meter rip-off?

Say taxi meter rip-off?

In 1974, after the last successful unionized taxi strike in New York City, the taxi meter was raised to $2.65/mile (in today's money * -- nominally $.60) -- said union being subsequently disbanded via a switch to leasing to so called "private contractors." By early 2004 the New York meter had sunk to $1.75/mile (in 2010 dollars -- nominally $1.50) -- for cabbies who serve the only place on earth (or in history) where wealth is a plateau not a pinnacle, lower Manhattan.

Later on in 2004 the New York meter was raised to a tad more than $2.25/mile (nominally $2.00) -- after average income in America had grown 166% since the last successful strike. Today inflation has shaved the meter back to $2.00/mile -- 65 cents short of 1974's rate. Oh, and under the lease system -- unlike the previous 60/40 (or was it 50/50? -- it's been so long) commission system -- the shortfall comes all out of the driver's pocket...

...effectively cutting his income in half? Did someone say New York Taxi meter rip-off?

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