Occupational license gives someone the right to use a specific space or a motor vehicle or a water craft or an aircraft or a train to do business. Therefore, with respect to the equal protection clause of the fourteenth amendment and the antitrust law, taxi occupational license commonly known as taxi for-hire license or taxi medallion shall not convert into financial security.
If the taxi occupational license holders wish to leave an asset for their heirs, they should make a legal investment. For example, there are life insurance and variable life insurance, whole life insurance and variable whole life insurance, universal life insurance and variable universal life insurance, annuity and variable annuity, IRA, real estate investment, corporate bonds, treasury bonds, municipality bonds, government bonds and supranational bonds, money market, notes, banknotes, debentures, common stocks, mutual funds; derivative contracts such as options, futures, swaps, forwards; New York Stock exchange, Chicago Mercantile exchange, NASDAQ, S&P 500, etc.
Taxi occupational license known as taxi for-hire license or taxi medallion gives a cab driver the right to use a motor vehicle in order to carry people and goods for compensation. Consequently, it is unconstitutional if a State or a jurisdiction tried to convert this license into a financial security. Licensing is a privilege and the right to have one belongs first to those who qualify or legally practicing in a specific field.
Therefore, New York City style taxi medallion system that we see in some jurisdictions is wrong, illegal and unconstitutional. Like all other kind of occupational licenses, taxi medallion should not have any monetary value. SEC "Securities and Exchange Commission" should step in to deregulate and eliminate New York City Style Taxi Medallion System.
As stated in United States Code 49 USC §13101(D): It is the policy of the United States Government to oversee the modes of transportation and to encourage the establishment and maintenance of reasonable rates for transportation, without unreasonable discrimination or unfair or destructive competitive practices.
In general, concerning the seating capacity of the vehicle and to prevent unfair or destructive competitive practices, where taxi-cab service passenger capacity ends is where limousine service should start with the addition of one passenger. A taxi-cab is a motor vehicle with a capacity of no more than eight (8) passengers, including the driver. Limousine service is offered with a motor vehicle having a minimum seating capacity of nine (9) passengers, including the driver, and offers transportation arranged in advance by telephone, fax, electronic mail, or software application, but no street hailing. Allowing both modes of transportation to use the same type of vehicles with the same seating capacity would be unfair and/or destructive competitive practices, as well as a violation of Section 13101(1)(D) and 13102(22) of Title 49.
It is wrong, illegal and an equal protection violation to think that an eight passengers (including the driver) or less motor vehicle because it is a luxury vehicle, it should be licensed as limousine not as taxi-cab. Licensing a motor vehicles having a capacity of not more than 8 passengers including the driver, not operated on a regular route or between specified places as a limousine or other mode of transportation is a violation of 49 USCS § 13102 (22). It does not matter how luxury is the vehicle. To prove that let’s go to Europe especially in Germany and England for a visit and you will see the mark of the motor vehicle they used in order to provide taxi-cab service. They are BMW, Mercedes Benz, Lamborghini, Porsche, etc.
The federal code is clear. If you use a motor vehicle having a capacity of not more than 8 passengers (including the driver) and you are not operated on a regular route or between specified places, you are providing taxi-cab service. The federal code did not say limousine service, sedan service, black car, car service, transportation networking service or other modes of transportation. Therefore, jurisdictions that create Sedan service, Luxury Sedan, Luxury limousine Sedan, Stretch limousine, black car, car service with a capacity of eight passengers including the driver violate 49 USC § 13102 (22) and Equal protection clause of the fourteenth amendment of the United States Constitution.
In order to encourage the establishment and maintenance of reasonable rates for transportation with reasonable and fair competitive practices, State and local jurisdictions should have the power to allow all of the following:
1. Cab drivers within the same company and those from different companies to compete with each other on prices and vehicles to use;
2. Taxi-cab drivers to negotiate their meter rates (up to the upper limit) with their customers;
3. Cab drivers to use their hack license number as the taxi occupational license number for the vehicle owned by the licensed taxi-cab driver. However, taxi driver should not be able to lease, rent or sell his/her occupational license; and
4. For taxi-cab drivers who are issued such hack licenses, the right to pick up passengers county-wide within the county or counties where such drivers are permitted to transport passengers, and they should not be limited to particular geographical areas within the county or counties where such drivers are permitted to operate.
Also, State and local jurisdiction should not have the power to fix the meter rate. This is price fixing by State and local government. For exemple, in Miami, Florida, the meter rate is $2.40 a mile. If seven (7) passengers want to take a cab round trip to the state of Georgia or Alabama or to a basket ball game between Miami Heat and Orlando Magic in Orlando, Florida at a different rate like $2.00 a mile or $1.50 a mile or $1.25 a mile, the driver cannot negotiate at a lower rate because of price fixing or fix meter rate imposed by the State and local jurisdiction.
Consequently, we, the American people seek equal rights in the transportation industry. Deregulate taxi occupational license and the entire taxi-cab industry. Deregulation will lower taxi-cab fares, increase competition, allow more economically disadvantaged individuals to ride taxi-cabs, change the social and economic situation of the cab drivers, create new jobs, increase interstate and intrastate tourists, bring better service to consumers, put better and more equipped eight passenger seat hybrid or clean fuel formula vehicles (49 USC Section 13102 (22) on the road with handicap accessibility, several child safety seats all in one for five years old and under, camera, GPS, credit card machine, computerized systems that are capable to record quickly each trip and fare, partition or bullet proof cabin for security and strong automatic lock in all doors in order to guarantee payment in risky areas.
Congress should eliminate 49 USC Section 13506 (a) (2) and allow the Secretary and the Board to have Jurisdiction over a motor vehicle providing taxi-cab services due to the involvement of taxi-cab vehicles in interstate commerce; and U.S. constitution violations as well as antitrust problems caused by States and local governments.
In conclusion, State and local governments should stop putting cab drivers under quota occupational license like Florida Statute 125.01 (1) (n). Taxi occupational license known as taxi for-hire license or taxi medallion is a privilege and the right to own one is a human rights, civil rights and labor rights issue. This right belongs first to legitimate taxi-cab drivers, not investors.
