Kamala Harris’ Policy on Out of Control Inflation: ‘Soviet’ Style Price Controls

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Vice President Kamala Harris is set to unveil a controversial new economic policy that has sparked intense debate among economists, politicians, and the public.

Her campaign recently announced plans to introduce what they’re calling “the first-ever federal ban on corporate price-gouging” in the food industry. This move comes as the Biden-Harris administration continues to face persistent inflation, a problem some argue they helped create.

Let’s rewind to three years ago. Harris cast the tie-breaking vote in the Senate to pass President Biden’s American Rescue Plan. Within weeks of the bill becoming law, inflation rates shot up dramatically.

Now, as she campaigns for higher office, Harris seems to be doubling down on government intervention in the economy.

The proposed policy aims to impose “stiff penalties” on the food industry. But many experts are raising red flags, comparing this approach to failed price control attempts in socialist economies.

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Mark Hemingway, a senior writer at RealClearPolitics, didn’t mince words: “Kamala Harris is literally proposing price controls on food. This is literally what the Soviets did and the results will be scarcity and higher costs.”

Helen Raleigh, who immigrated from communist China, shared a stark warning based on her personal experience: “Government-imposed price control is a terrible idea because it makes the economy worse by causing shortages. Everyone who survived socialism/communism knows this: if the store shelves are empty, it doesn’t matter how low the government claims the price of bread is.”

Critics argue that this policy ignores basic economic principles. Instead of addressing the root causes of inflation, such as increased government spending and supply chain disruptions, it seeks to artificially cap prices which could lead to product shortages and reduced quality – problems that plagued centrally-planned economies in the past.

The Biden-Harris administration has consistently blamed “corporate greed” for rising prices. However, this narrative oversimplifies a complex economic issue and potentially misleads those who may not fully understand the multifaceted causes of inflation.

The reality is that the grocery industry typically operates on razor-thin profit margins. Imposing additional penalties could force businesses to cut costs elsewhere, potentially leading to job losses or reduced investment in new products and services.

As one social media user pointed out, “Kamala Harris is running a marketing campaign for president that isn’t even attempting to provide any real substance. This is another example of how she’s trying to win over voters with gimmicks and ‘vibes’ that won’t amount to much but creates a villain to run against.”

The proposal has also drawn criticism for its lack of originality. This is only the second major policy Harris has introduced during her campaign, with the first being reportedly borrowed from Republican presidential nominee Donald Trump.

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Americans continue to face significant economic challenges. Harris’ proposed policy would be another step towards centrally-planned economy, a.k.a., socialism.