Stories
Slash Boxes
Comments

SoylentNews is people

posted by mrpg on Saturday March 03 2018, @12:35PM   Printer-friendly
from the dont-do-it dept.

A study conducted by the MIT Center for Energy and Environmental Policy Research analysed revenue and costs for over 1100 Lyft and Uber drivers, with the conclusion that most earn below minimum wage for their state and about 30% actually lose money when all the costs of owning and operating their vehicles are taken into account.

"A Median driver generates $0.59 per mile of driving, and incurs costs of $0.30 per mile", "On an hourly basis, the median profit was $3.37 per hour".

Because actual vehicle operating costs are significantly lower than the IRS allowance of $0.54/mile, many drivers report incomes that are substantially lower that their actual incomes, leading to a large pool of untaxed income (although it is small for each driver).

Techcrunch has a summary


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 0) by Anonymous Coward on Sunday March 04 2018, @02:17AM

    by Anonymous Coward on Sunday March 04 2018, @02:17AM (#647418)

    not totally uncommon

    double negatives don't always not sucks.