Democratic Presidential Nominee, Kamala Harris, runs her campaign calling for new homes to be built, for taxpayers to subsidize first-time home buyers, and for a national ban on grocery “price-gouging”.
Congress has a history of obstructing similar ideas, preventing them from becoming real policy.
The real question is this: Kamala had more than three years with the Biden Administration to fight for these initiatives. Why did she not deliver on these promises?
Especially considering the fact that Kamala Harris is now building on the Biden Administration’s plans, why hasn’t she done anything at all?
According to BBC, Co-President of the consumer watchdog Public Citizen, Robert Weissman, said “the [Biden] Administration did talk about it but they did not promote proposed measures anywhere near as aggressive as Harris is doing.”
Banning Price-Gouging might be a popular idea among voters, but many economist have already spoken out against Kamala’s initiative.
New York Times reports that Former Obama Administration Economist, Jason Furman, has warned against the ban.
Economist Furman suggested “the plan would prevent the economy from adjusting and keep competition artificially regulated.”
This is the administration Kamala Harris speaks so highly of, yet she is acting against the advice of an Economist from that very same Administration.
Jason Furman continues to suggest “If prices are not allowed to increase in response to demand, new companies will be hesitant to enter the market to increase supply.”
Simply put, if Kamala Harris aims to regulate prices for grocery stores to prevent “Price-Gouging”, a list of things can happen:
Less businesses will open up, because they will hesitate to enter the market.
As a result, there will be more demand and less supply, which will further increase prices! Leading to more inflation!
With less businesses and less supply, we will have to suffer an economy with less jobs created than could have been created without Kamala’s initiative.
There will be those who say she does not want to regulate grocery store prices, but there is no other way to prevent the “price-gouging” Kamala Harris claims is causing the inflation we suffer today.
Truth be told, the inflation we see today is not caused by Price-Gouging.
Joshua Hendrickson, an economist at the University of Mississippi said, “if prices are rising on average overtime and profit margins expand, that might look like price gouging, but it’s actually indicative of a broad increase in demand.”
He goes on to say, “ such broad increases tend to be the result of expansionary, monetary or fiscal policy—or both.”
Former Obama administration economist, Jason Furman himself said, “egg prices went up last year— it’s because there weren’t as many eggs, and it caused more egg production.”
According to Free Beacon, other economists are telling NY Times that “although rising food prices may look like corporate price gauging, the spike is natural due to increased consumer demand following the pandemic and the result of expansionary fiscal policy such as the stimulus checks that came out in 2021.”
As we can see, Kamala’s price-gouging ban is nothing but a lie!
Although economists are coming out and saying inflation has nothing to do with price gauging, and that enforcing a ban and regulating prices to fight against inflation is bad for the economy, Kamala continues to spew fake propaganda to deceive citizens into voting for her!
She’s a typical politician that lies her way to the top, and she hopes we would never notice.
But we have noticed.