US: With the idea of an unrealized gains tax being tossed around at the Federal level, and just when you thought we couldn’t possibly conjure up any more fees, taxes, surcharges or other burdensome cash grabs, the Philadelphia Airport is calling your bluff.
The airport spurred “outrage” this week after it was revealed that they are adding a 3% surcharge to every purchase, according to View From The Wing. As if airports weren’t already adding 50% surcharge on everything they sell there to begin with…
According to the report the surcharge is “to offset the employee wages and benefits” that must be paid to airport workers, but none of the money actually goes to employees.
View From The Wing then asks the astute question: “You might ask, why allow vendors to charge people more than the marked prices, instead of just raising prices?”
And you already know the answer, right? It’s because the airport doesn’t let them raise prices, stating that “operators are only permitted to charge up to 15% more than a comparable street-side unit”.
Thus, the airport then pretends that a surcharge isn’t a price increase. And while we’re fuzzy on the innerworkings of the charge, it would seem to us that it puts another set of hands in between the customer and the vendor, so we’d be doubtful about vendors having access to all of the new cash they are bringing in. You’ll have to pardon our skepticism, but just remember, we’ve covered Wall Street for decades. Read Here More.
- By Tyler Durden
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