This is the first thing she’s going to release as her “economic policy”
Harris to unveil economic agenda that would crack down on ‘price gouging’ on food, groceries
Vice President Kamala Harris is set to release her economic agenda on Friday following calls for her campaign to zero in on policy after their unprecedented rise to the top of Democratic ticket.
Harris is set to outline her plans at an event in Raleigh, North Carolina — a pivotal battleground state both Harris and former President Donald Trump will work to win in November. Among the economic policies Harris is set to announce is a plan to provide up to $25,000 in down payment support for first-time homeowners, according to a campaign official.
The campaign is vowing that during her first term, the Harris-Walz administration would provide working families who have paid their rent on time for two years and are buying their first home up to $25,000 in down-payment assistance, with more generous support for first-generation homeowners.
Oh, good, another cash giveaway, ie, bribe. Where’s this money going to come from? The Biden-Harris admin has already seen home values double and triple, this would see them go up even more
Harris is also set introduce is a federal ban on “corporate price gouging” on food and groceries, the campaign said.
“In her first 100 days, Vice President Harris will work to enact a plan to bring down Americans’ grocery costs and keep inflation in check,” the campaign said.
Has Kamala ever worked a retail job? Does she understand what goes into running a supermarket? Does she understand that post-COVID inflation, some of which is the fault of her and Biden and their Congressional Democrats, along with Democrats at the state level, along with higher gas prices, and much more impact prices at the supermarket? No one is really gouging anyone.
Harris Plans to Ban Grocery ‘Price Gouging.’ What Does the Evidence Say?
In detailing her presidential campaign’s economic agenda, Vice President Kamala Harris will highlight an argument that blames corporate price gouging for high grocery prices.
That message polls well with swing voters. It has been embraced by progressive groups, which regularly point to price gouging as a driver of rapid inflation, or at least something that contributes to rapid price increases. Those groups cheered the announcement late Wednesday that Ms. Harris will call for a federal ban on corporate price gouging on groceries in an economic policy speech on Friday.
Even if there was gouging going on, who the heck will figure it out? What is gouging? Why is a can of soup more expensive at the regular grocery stores than at my Walmart? Why can I buy a pack of guitar strings for less via Amazon than at the local guitar store? Is that gouging? If milk is $1.78 at Lidl buy $2.49 at Food Lion, is that gouging?
Economists have cited a range of forces for pushing up prices in the recovery from the pandemic recession, including snarled supply chains, a sudden shift in consumer buying patterns, and the increased customer demand fueled by stimulus from the government and low rates from the Federal Reserve. Most economists say those forces are far more responsible than corporate behavior for the rise in prices in that period.
Obviously, the Biden-Harris admin blames companies, despite never sitting down and listening to them explain why the prices went up and will mostly not come down.
Mr. Furman, by contrast, said there was a risk that policies meant to curb corporate price gouging could instead keep the economy from adjusting. If prices do not rise in response to strong demand, new companies may not have as much inclination to jump into the market to ramp up supply.
“This is not sensible policy, and I think the biggest hope is that it ends up being a lot of rhetoric and no reality,” he said. “There’s no upside here, and there is some downside.”
What is it called when the Government is in charge of the economy?
More: A very interesting piece by Catherine Rampell at the Washington Post
When your opponent calls you ‘communist,’ maybe don’t propose price controls?
….
It’s hard to exaggerate how bad this policy is. It is, in all but name, a sweeping set of government-enforced price controls across every industry, not only food. Supply and demand would no longer determine prices or profit levels. Far-off Washington bureaucrats would. The FTC would be able to tell, say, a Kroger in Ohio the acceptable price it can charge for milk.
At best, this would lead to shortages, black markets and hoarding, among other distortions seen previous times countries tried to limit price growth by fiat. (There’s a reason narrower “price gouging” laws that exist in some U.S. states are rarely invoked.) At worst, it might accidentally raise prices.
That’s because, among other things, the legislation would ban companies from offering lower prices to a big customer such as Costco than to Joe’s Corner Store, which means quantity discounts are in trouble. Worse, it would require public companies to publish detailed internal data about costs, margins, contracts and their future pricing strategies. Posting cost and pricing plans publicly is a fantastic way for companies to collude to keep prices higher — all facilitated by the government.
Worth reading the whole thing. Commies.
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Government-run enterprises.
Hello Venezuela!
‘member?
Yeah, it was.
Grocery stores have very low profit margins, in the 1 to 3% range, but Mrs Emhoff is going to crack down on them for price gouging?
Socialists gotta socialist, I suppose!
Harris’s idea for price controls likely comes from a bill sponsored by Senator Elizabeth Warren(C MA) in February 2024, “Price Gouging Prevention Act of 2024.”
If you assume that any bill introduced by Elizabeth Warren is communist lunacy, you will rarely be wrong.
Even the Washington Post opines “When your opponent calls you ‘communist,’ maybe don’t propose price controls?” When a leftist idea loses the support of the Washington Post, you know the idea is crazy.
Democrats are certain that their version of socialism/communism will be successful, even though socialism/communism has never been successful before.
L.G.,
Republicans called FDR a communist. Some things never change. Unfortunately, Repubs don’t pay for THEIR socialism, Dems do.
Conservatives love SOME communism like Social Security and Medicare and Medicaid and the military and highways/bridges/dams/airports/seaports and redistributions from CA, NY, TX, MA etc to LA, MS, KY, WV etc, which together consume over 2/3rds of the federal budget!!
The objective of every capitalist company is monopoly, so they can charge whatever they wish. Short of that they love colluding with other companies and fixing prices.
N.B. – In the United States the rich are getting much richer and the working class is treading water. Price gouging redistributes billions in working class wealth to the rich.
Since around 1980 Republicans have gutted U.S. treasure by cutting taxes on the wealthy – the “capitalists” – while adding trillions to the debt – which someone will eventually have to pay off, either directly or through drastic cuts in services.
Step 1: Donnie Donuts wants to end public education!
Total BS. The “wealthy” pay more in taxes than they ever have in the past. Before Reagan the top rate was in the 90% range, and the wealthy paid much less of the total tax bill than they do now. The problem is spending, plus the fact that the bottom 50% pay only around 3% of the total tax bill.
“Donny wants to end public education”. You should apply for a job with CNN-he said abolish the Department of Education.
Not only are you ranting again proving yourself mentally unhinged but you are just throwing crap out like facts when they are not.
None of that is communism although they all exist in communist countries as do they in capitalist (or semi capitalist) countries. Societies share some economic as well as social and political necessities. That makes neither Cuba capitalist nor the US communist. In our republic our states were set up to trade and protect each other which makes the wholly American not communist. Although from your communist aspect I can see how easily it would (does) confuse you. Just relax, we all realize if you don’t Google it or if it’s not on The View you don’t know anything abut it. We are used to your limitations and have actually come to find them entertaining.
Here is where you show your lack of economic understanding. Go read Free To Choose and get back to us. The objective of every company (are there non capitalist companies?) is to turn a profit not be a monopoly. History shows if a company becomes a monopoly either the government takes it over or breaks it up. Remember, companies even monopolies don’t have armies but governments do. So you can cry and bitch and moan all you want but only the government can force us to do anything. Same goes with collusion. Currently the companies which collude like Pharmaceuticals are regulated and controlled by the government. In fact name a business sector not regulated to death by fed, state and local bureaucrats and their democrat employers, protectors and patrons.
If the rich are getting richer the democrats are doing it since they’ve been in charge almost exclusively for the last 20 years. They control every sector of our economy both public and private as well as government. So it’s your fault you thieves. Name one area of price gouging. And how do you know? How would you know what the “fair” price is for any commodity since you’ve never created any. (BTW, the fair price is whatever the seller and buyer agrees on. They already got Trump because some bureaucrat thinks he knows the value of his property better than he and the bank does.)
Still stickin’ to that old bag of horse shit? Tax breaks don’t add to the debt SPENDING DOES you know-nothing fool. It’s the constant taxing-regulating and spending that has bankrupted the country, not tax breaks. In fact the numbers have proven tax breaks usually bring in more cash to the treasury but nothing is ever enough to keep up with the child like spending of the retarded commie left.
Go read a fukin book before you come here again spewing your communist nonsense. And not Das Capital. Try The Road To Serfdom and actually learn something.
You come from a super wealthy family so socialism has been good to you. You just object to others deriving benefits from the America.
Tax cuts increase revenue!! LOL.
Ronald Reagan doubled the US debt. Bush I added another 50%. Clinton kept it constant!
Our national debt is the difference between taxes collection and spending.
Why didn’t Trump balance the budget? He could have vetoed every spending bill, but he signed more than almost anyone.
That’s rhetorical (which means The Pissant can’t answer it).
Anyway, since in your opinion spending is the problem, what would you cut to erase the debt (~ $30 trillion)?
Social Security, Defense, Medicare, Medicaid, Interest account for some 85% of total spending.
We spent $6.1 trillion and collected $4.4 trillion in 2023. Since you refuse any tax increases, you need to find $1.7 trillion to balance the budget. For one year. Go!!
Only about $30 trillion to go.
Rimjob…
All in.
Where did you get the pic of Rimjob? I see he’s lost some weight too.
The Pissant and The Abortionist celebrating their “friendship”!
“Tax cuts increase revenue..”. With the top 1% it definitely did.
What specific economic policy is Vice President Kamala Harris expected to announce during her event in Raleigh, North Carolina, related to first-time homeowners? Visit us Telkom University