Rohit:

I think the point Carl is making is that if there are more drivers than taxicabs, the drivers will not make any money if the number of cabs is limited, e.g. a medallion system.

So even though you can buy a medallion, that doesn't change the fact that the driver will still be left with nothing.

No lease cap is right!!!!!!

This is America. THe market should decide. If drivers don't want to pay they can go somewhere else.