“I know how unfair it feels when a company overcharges you and gets away with it,” he said during his State of the Union address earlier this month. “Americans are tired of being played for suckers.”
. Some economists also say junk fees warp the free market by allowing businesses to hide the true cost of their services.with voters, attacking junk fees will ultimately harm consumers. They make the case that forcing companies to offer a single, up-front cost will mean people will end up paying for services they won’t end up using.
“How much of a difference Biden’s actions will make remains unclear. But the administration’s effort is based on an idea supported by a lot of evidence: The free market doesn’t solve all problems. … Sneaky fees turn out to be a small but telling example of why the modern economy isn’t working so well for many Americans.” — David Leonhardt,“At the moment, Democrats can't give the left the big new entitlement programs that they want .
“This Junk Fee Prevention Act is not an actual thing that exists at the moment. If and when it does , it’s not entirely clear how implementation would work.
Is there a topic you’d like to see covered in “The 360”? Send your suggestions to [email protected]. Photo illustration: Jack Forbes/Yahoo News; photos: Al Drago/Bloomberg via Getty Images, Getty Images
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