Kamala Harris’ plan to lower food prices is ripped to shreds by Republicans, economists: ‘Economic lunacy’
By Victor Nava
Published Aug. 15, 2024
Updated Aug. 15, 2024, 9:50 p.m. ET
*** begin quote ***
Vice President Kamala Harris’ plan to grant the federal government expansive new authority to control food and grocery prices was roundly criticized Thursday by several Republicans and economists, who argued that it was “big government on steroids” and “economic lunacy.”
The 59-year-old Democratic presidential nominee’s economic agenda calls for the “first-ever federal ban on price gouging on food and groceries” to be implemented within her first 100 days as president in order to “bring down Americans’ grocery costs and keep inflation in check,” according to the Harris campaign, which released details of the plan ahead of Friday’s official unveiling.
*** and ***
Jared Walczak, a researcher and vice president at the nonpartisan Tax Foundation, pointed out the slim profit margins companies selling groceries are making even as prices on food skyrocketed under President Biden.
“When Kamala Harris cites price gouging by grocers, these are the industry profit margins she’s railing against,” Walczak wrote on X, including a graph showing the 1.2% profit margins grocers made last year compared to 8.5% profit margins across all industries.
When Kamala Harris cites price gouging by grocers, these are the industry profit margins she’s railing against. pic.twitter.com/IYnWjxLa07
— Jared Walczak (@JaredWalczak) August 15, 2024
*** and ***
“Price controls are a SERIOUSLY bad idea,” he wrote on X. “They lead to shortages, severe misallocations of capital, and distort the ability to prices to signal the information we all need to make choices.”
‘They didn’t work when tried by a Republican (Nixon) and they won’t work under a Democrat, however strong the ‘vibes,’” Gregg noted in a separate post. “They only cause shortages and misery.”
“Will no fiscally responsible Democrat call out this irresponsibility?”
*** end quote ***
I remember Nixon’s gas lines. (Even Odd plates in the Pepuls Republik of Nu Jerzee. We had one car and access to her brother’s with one even and one odd. So when I went to work in the “bad plated car”, she would go sit on a gas line with the “good plated car”. Sometimes for hours. What a total waste of attention, time, and resources across all of society.)
I remember, that when I started driving in the sixties, three silver dimes would buy a gallon of regular gas. Today those same three silver dimes, sold to a coin dealer would get you 6$, which would buy a little less that 2 gallons of regular gas. And, today the gas is better and goes further. Even after food (cord) is turned into “fake gas” and adulterated into regular gas. Argh!
SO what happened between the 1960’s and the 2020’s?
The FED “printed” a shit load of dollars which the politicians spent like drunken sailors (at least sailors spend their own money). More dollars change the same amount of goods leads to inflation.
“Inflation is theft, you’re stealing value from people who save money.”-Ron Paul
William Rusher, the editor of the conservative National Review, quoted economist Milton Friedman as saying that “if the government were to take over the Sahara Desert, there would be a shortage of sand in five years.”
So only a socialist / communist would seek price controls. What to curb inflation, #endthefed and restore fiscal discipline to the nation.
I’ve often thought the USA’s downfall has been at the hands of the Progressive Left. Some changes like ending slavery were excellent; although done very badly. Others, like the 14th, 16th, and 17th Amendments were disastrous. The opponents of the Constitution were stunningly accurate in their predictions of what could go wrong, And did!
“Would you tell me please, Mr. Howard, why should I trade one tyrant three thousand miles away for three thousand tyrants one mile away? An elected legislature can trample a man’s rights as easily as a king can.” Mel Gibson as the character Benjamin Martin in the movie The Patriot http://www.imdb.com/title/tt0187393/quotes
I hope that “We, The Sheeple” recognizes that Harris is a whore that climbed the political ladder in the most disgusting way. And, if she’s elected, then the USA is finished as a democratic federal republic. Just like all the other empires crashed on a mountain of debt, so too will the USA.
Argh!
—30—
Reinke Faces Life 