President Biden boasted that he would save Americans $20 billion annually by cutting 'junk fees.' That equates to about $153 per year per household.
From claiming inflation was "transitory" to blaming it on Vladimir Putin, President Biden has seemed all too willing to ignore the enormous impact of inflation on everyday Americans. As they continue to deal with the effects of the highest inflation seen in decades, Biden is trying to fight a war on "junk fees,'' instead of directly combating the core problem. Unfortunately, his efforts will do little more than continue to raise everyday costs for Americans everywhere.
Those staggering numbers aside, Biden’s mission might be better received if it were a legitimate attempt to help Americans deal with rising costs. Instead, Biden’s recent proposal is the latest in a broader campaign of misdirected policies. Biden and his allies are trying to shift the blame for inflation to private companies as his approval numbers continue to disappoint.
The FTC is targeting fees that Airbnb users face, yet turning a blind eye to exorbitant lodging taxes that can easily exceed 20% of the rental cost in certain jurisdictions. Similarly, the FTC regulations do not require full disclosure of amusement taxes on concerts and sporting events – though these can often exceed 10% and have been stretched to include streaming services in cash-hungry jurisdictions, like Chicago.
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