On Friday, Vice President Kamala Harris spoke at a campaign stop in Raleigh, North Carolina where she announced a set of economic proposals.
Gallup research shows that high cost of living and inflation are Americans number one financial problem. Polling and research also indicates that voters trust Former President Donald Trump more than Kamala Harris with the economy.
Trump is consistently showing a lead with Americans financial problems, with a recent CNBC “All America Economy Survey” showing Trump with a 2-point lead over Harris.
With Trump leading in an area that is a top concern for voters in the 2024 election, it was time for Harris to act, leading to her announcement of yet another radical policy proposal.
Harris is promoting a federal ban on price gouging by food producers and grocers—a socialist and authoritarian model that has led to the downfall of many communist countries.
Successful entrepreneur and businessman David Friedberg summed up his thoughts on Harris’s price gouging proposal saying that, “Every socialist experiment in human history has started with caps on food and it has resulted in bread lines.”
Friedberg said, “This is a mistake. It is anti-American.”
Left wing media is not buying Harris’s price gouging proposal either, with prominent outlets like the Washington Post saying, “The times demand serious economic ideas. Harris supplies gimmicks.”
Other outlets like CNN said that Harris’s plan to stop price gouging would create more problems than it would solve.
Gavin Roberts, Chairman of the Weber State University’s economics department, told CNN that Harris’s proposal to lower costs would do just the opposite.
Roberts, who studied anti-price gouging laws during the pandemic, said that these laws motivate people to go buy more goods than they would if prices had risen.
“When prices are high, in most cases, the best policy action in response is actually taking no action,” said Roberts. “It’s more likely to maintain that status quo, keeping new competition from moving in to take advantage of the bigger profit margins — competition that could have helped lower prices in the long run.”
Jason Furman, a top economist during the Obama Administration, agreed with Roberts view and believes that anti-price gouging laws could ‘inadvertently harm consumers’.
Furman said that, ““This is not sensible policy, and I think the biggest hope is that it ends up being a lot of rhetoric and no reality. There’s no upside here, and there is some downside.”
The Trump campaign is capitalizing on Kamala’s proposal, with Donald Trump back on X posting that, “If you think things are expensive now, they will get 100 times worse in Kamala gets four years as President. Under her plan, Kamala will implement Soviet Style Price Controls.”
