You can also spin this as "keeping people who need a ride poor by raising the price of the good they depend on", or even "preventing the poor from working by making it uneconomical for them to get to work".

If you're going to argue in favor of breaking competition, you absolutely have to have a better argument than "it's good for the sellers." There's two sides to every economic transaction, and I see no evidence that cab-medallion-owners are drastically more worthy people than cab-riders.