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by shakethemonkey 4399 days ago
For taxis, medallions are usually leased to drivers (few could afford one). This takes much of their revenue -- perhaps half or more surrendered to a medallion holding company just for the privilege of driving a taxi.

New York City presentation suggests a driver with $90k revenue has $41k expenses. [1]

[1] http://www.nyc.gov/html/tlc/downloads/pdf/presentation.pdf