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Boston Taxis- The Cost of an Icon.
it has witnessed loads of historical events
yet the revenues aren’t going to the driver. So.
it’s all about the medallion
To Boston taxi drivers — many immigrants who average 72 hours a week taking someone else’s taxi to net maybe $550 — the medallions are like wealth, secrets to better lives for themselves and their their families. Therefore, the medallions that cost $50 in 1935 now cost a lot more, leading them to be the second costliest in the country after New York City’s. While the value keeps rising, the cabbies keep driving and driving and struggling to keep up.
Together with the bad financial situation along with the rising gas prices. It is no wonder that Boston taxis are overpriced.