New Massachusetts Law Will Tax Uber and Lyft to Bailout Taxi Industry, As Taxi Medallions Plunge

[Dont Taz Me Bro]

More evidence that politicians care more about who is putting money in their campaign coffers than they do about economic freedom so the poor and middle class can earn a better living. Don't miss Taxachusetts and will never move back there. It wasn't until I left that hole and headed south that my standard of living improved.

Taxing Uber and Lyft to bailout their flailing taxi competitors makes about as much sense as taxing car makers to rescue the horse-and-buggy industry or taxing DVDs to save VHS tapes. Massachusetts did it anyway.

Under a new law signed by Massachusetts Gov. Charlie Baker, the state will impose a 5-cent fee on every trip taken with Uber and Lyft and funnel that money as “financial assistance” to their taxi competitors. The collected fees would “encourage the adoption of new technologies” and “support workforce development” for taxi businesses. As Reuters (and not The Onion) reported, the new fee “appears to be the first of its kind” and “may raise millions of dollars a year.”

New Massachusetts Law Will Tax Uber and Lyft to Bailout Taxi Industry, As Taxi Medallions Plunge

 

[Dekster]

Oh ye of little faith. That nickel a ride isn't going to do anything. That nickel a ride is a way to force the companies to reveal how many rides are taking place so they have the data to argue that the service should be regulated or outlawed altogether. This isn't a subsidy. They are mining the harbor.

 

[GHook93]

More evidence that politicians care more about who is putting money in their campaign coffers than they do about economic freedom so the poor and middle class can earn a better living. Don't miss Taxachusetts and will never move back there. It wasn't until I left that hole and headed south that my standard of living improved.

Taxing Uber and Lyft to bailout their flailing taxi competitors makes about as much sense as taxing car makers to rescue the horse-and-buggy industry or taxing DVDs to save VHS tapes. Massachusetts did it anyway.

Under a new law signed by Massachusetts Gov. Charlie Baker, the state will impose a 5-cent fee on every trip taken with Uber and Lyft and funnel that money as “financial assistance” to their taxi competitors. The collected fees would “encourage the adoption of new technologies” and “support workforce development” for taxi businesses. As Reuters (and not The Onion) reported, the new fee “appears to be the first of its kind” and “may raise millions of dollars a year.”

New Massachusetts Law Will Tax Uber and Lyft to Bailout Taxi Industry, As Taxi Medallions Plunge

Wait until the driverless Ubers take off. It is being tested in Pittsburgh next month. I think it is about 5-10 years away from mass usage.

The main hurdle will be legislative.