NYC to Compensate for Worker Exploitation

NYC to Compensate for Worker Exploitation

(RightWing.org) – When Liberals call for worker rights, it’s always an appeal to corporations treating their workers unfairly. It’s always the fault of corporations and not of a state official or politician. They blame the greedy business owner for exploiting their workforce through long hours and unnecessary red tape.

Surprisingly, it looks like hypocrisy that has backfired against the liberal elites.

New York City, a liberal stronghold, must now pay $810 million in compensation for extorting taxi cab drivers by artificially inflating the cost of their city-required work licenses (referred to as yellow taxi medallions).

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Letitia James, Attorney General of New York, found that the value of taxi medallions was arbitrarily inflated by millions of dollars between 2004 and 2015 when they peaked. Worse yet, the Taxi and Limousine Commission knew about this way back in 2011.

The result was that city brokers and other individuals set medallion prices so high, they could never be paid off by the earnings cab drivers could achieve. To make matters even worse for cabbies, the emergence of free-market freelancers working under the auspices of Uber and Lyft made it even more difficult for cab operators to break even, much less make any profit as the tried to pay off their medallions.

This is how liberal elites, not corporations, keep down hard-working Americans.

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