Kamala Harris is so dangerous that even CNN and The Washington Post (WaPo) will have none of her agenda. Economics writer for the NY Times and WaPo, Catherine Rampell, authored a piece titled When your opponent calls you ‘communist,’ Maybe don’t propose price controls? The subtitle: It’s hard to exaggerate how bad Kamala Harris’s price-gouging proposal is.
The article begins:
“Price gouging” is the focus of Vice President Kamala Harris’s economic agenda, her presidential campaign says. She’ll crack down on “excessive prices” and “excessive corporate profits,” particularly for groceries.
So what level counts as “excessive,” you might ask? TBD, but Harris will ban it.
That’s the thing about price gouging: As has been said of hardcore pornography, you know it when you see it.
Rampell quoted Harris, saying there would be clear rules of the road. Rampell described the rule of the road, which are anything but clear.
The most likely template for Harris’s proposal is a recent bill from Sen. Elizabeth Warren (D-Mass.). (Harris co-sponsored similar legislation with Warren in 2020 when Harris was a senator.) Warren’s bill would ban any “grossly excessive price” during any “atypical disruption” of a market. Alas, no definition was provided for these terms, either; rather, the bill would empower the Federal Trade Commission to enforce bans using any metric it deems appropriate.
It’s not hard to figure out where this proposal came from. Voters want to blame someone for high grocery bills, and the presidential candidates have apparently decided the choices are either the Biden administration or corporate greed. Harris has chosen the latter.
The rest of the article coincides with Rampell’s interview on CNN News Central today.
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Rampell said no one can explain what price gouging means. What does it mean to have an acceptable price? It’s hard to pin down what it would mean.
THE WAY THE BILL IS WRITTEN
“The way it’s written is especially bad. It just bans excessive prices, grossly excessive prices, and grossly excessive profit margins and says that the Federal Trade Commission can use any metric it deems appropriate to decide what that would mean.
“It’s not going to be markets; it’s not going to be supply and demand that’s determining how much your grocery store charges you for milk or for eggs. It’s going to be some bureaucrat in DC, which seems… totally unworkable. First of all, for the FTC to be side-deciding, like how much Kroger charges for eggs in Michigan, it also would be very bad for markets.
Venezuela, Argentian, the Soviet Union
“We’ve seen this kind of thing tried in lots of other countries before, Venezuela, Argentina, the Soviet Union, et cetera. It leads to shortages; it leads to black markets, you know, plenty of uncertainty, and beyond that.
“The specific way this bill is written might actually increase prices because of some of the other language in it – things like requiring companies, public companies to disclose in their quarterly reports the quarterly earnings reports how they’re setting prices, which is a great way to help them collude, which normally we don’t want them to do.
“So anyway, you know the devils in the details. …it’s really hard for me to imagine any form of legislation that preserves the spirit of what she’s proposing that would do nothing or, at best, do a lot of harm.”
As far left as WaPo and CNN are, they aren’t as far left as she is. That should serve as a warning.
This is a good sign for normal Americans. It’s hard to believe 80% of Americans would support this insanity. Her speech writers and handlers thought this would fly because they have so little respect for the intelligence of Americans.
WATCH:
MUST WATCH
CNN just DESTROYED Kamala Harris’ economic agenda.
“We‘ve seen this kind of thing tried in lots of other countries before. Venezuela, Argentina, the Soviet Union…it leads to shortages” and would “cause a lot of harm.” pic.twitter.com/pFEMYDjpN0
— House Republicans (@HouseGOP) August 16, 2024
I had a job in a supermarket for extra money to get through school and they promoted me to bookkeeper. Their profit was about 1%. They aren’t gouging anyone. Farmers and food manufacturers aren’t gouging anyone. They’d be making a lot more money if they were.
Biden-Harris policies cause inflation and high prices.
Kamala Harris’s campaign claims grocery stores are price-gauging, but they’re not. If they were, their annual profits wouldn’t be just 1.2% when the all-industry average is 8.5%. The media will likely hide those numbers tomorrow when they fluff Harris’ proposal. https://t.co/55oAOsxl1L pic.twitter.com/ysrV5Fa0SM
— Michael Shellenberger (@shellenberger) August 15, 2024
Disappearing Kamala Crowd
It looks like the crowds are disappearing at Kamala’s rallies, but since 2020, it’s apparent that it doesn’t matter. Biden was lucky to have his own staff show up at his speaking engagements, and he somehow won 81 million votes.
¡Enlace Latino NC está en el lugar!
La vicepresidenta y candidata a la presidencia Kamala Harris se prepara para dar un mitín en el Wake Tech Community College en Raleigh. Se espera que su discurso se enfoque en el sector económico. pic.twitter.com/G66TTcDwqR
— Enlace Latino NC (@EnlaceLatinoNC) August 16, 2024
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