“It’s hard to overstate how terrible” Vice President Kamala Harris’ proposal to implement government price controls on food is, one research organization says. The Washington Post The paper condemns the plan as vague and harmful, and warns that those labeled “communists” by their opponents should think twice before pursuing such radical economic policies.
in piece The article, published Thursday, was titled “If They Call You a ‘Communist,’ Maybe You Shouldn’t Propose Price Controls?” The Washington Post Columnist Catherine Rampell argues that it’s hard to overstate how “awful” Harris’ plan is.
“It’s not hard to see where this proposal comes from,” the essay states. “Voters want someone to blame for their high grocery bills, but presidential candidates seem to have decided their only choices are between the Biden administration and corporate greed.”
“Harris chose the latter,” Rampell added.
Get ready for the “joy” of the bread procession!
Do not exceed your coconut intake limit.
The black market is terrible! pic.twitter.com/sU9IqvBXmN—Breitbart News (@BreitbartNews) August 15, 2024
Harris has pledged to ban price gouging at the federal level within her first 100 days in office, and her plans to crack down on “excessive prices” and “excessive corporate profits” in the food sector have been criticized for lacking clarity and potentially sparking economic chaos.
“What are these ‘bright line rules’ or standards that determine whether a price or profit level is ‘excessive?'” Rampell asked. “None are stated in the memo, and the campaign did not respond to my questions seeking clarification.”
The most likely model for Harris’ proposal, according to the paper, is a recent bill by Democratic Senator Elizabeth Warren, which similarly lacks clear definitions and gives broad enforcement powers to the Federal Trade Commission (FTC).
““Warren’s bill would ban ‘grossly exorbitant prices’ during ‘extraordinary disruptions’ in the market,” the article suggests. “Unfortunately, it doesn’t even provide definitions for these terms. Rather, the bill would empower the Federal Trade Commission to enforce the ban using whatever standards it deems appropriate.”
Rampell calls it “a nominal, sweeping government price control that extends not just to food but to every industry.” I“It’s hard to overstate how bad a policy like this is.”
“Supply and demand no longer determine prices or profit levels; they are determined by far-flung bureaucrats in Washington,” she wrote. “The FTC could dictate to, say, Kroger in Ohio the fair price it could charge for milk.”
Rampell stressed that the bill would ban volume discounts, require companies to disclose pricing data and risk collusion, and that the plan “is a Shortage, Black Market and StockpilingBetween Other distortions “As seen in the past when countries have tried to curb legal price increases,” and “by accident increase price.“
Noting that the bill requires public companies to disclose detailed internal data on costs, profit margins and future pricing strategies,Disclose hosting costs and pricing plans teeth A great way Companies collude to keep prices high It’s all facilitated by the government.”
She goes on to explain: As Harris herself emphasized in her anti-“price gouging” agenda, price fixing is “already illegal.”
A harsh confession: We have no idea what causes inflation pic.twitter.com/ZMVXpNVBe9
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But Rampell suggested Harris’ advisers seemed unable to distinguish between actual cartel activity and temporary price increases caused by increased demand or supply chain problems.
““Harris’ economic advisers are either too confused or unable to tell the difference,” she wrote. “They don’t seem to know the history of these policies and have never really thought about how they might make markets more competitive or improve the lives of their constituents.”
The White House itself has warned in light of recent reports that food prices have risen just 1% over the past year. I boasted. of, post The essay calls into question the premise of Harris’ campaign.
“They don’t seem to know much about what’s going on with food prices. Believe it or not, the fight against inflation is already Won” Rumpel wrote.Profit margins in the grocery industry remain “notoriously low”, casting doubt on the notion of “excessive corporate profits”.
She explains that food price inflation actually rose due to rising demand and supply disruptions, and then fell as those factors subsided, arguing that “this is a fact that the Harris campaign should explain to consumers, not exploit for sensational gain just because push polls show people resent ‘greed.'”
The essay concludes by arguing that Harris’ plan risks confirming long-standing accusations from critics.
“The other person You claim to be a “Communist”“Perhaps we shouldn’t start with an economic policy that could (accurately) be called federal price controls,” she writes. “We already have enough. Economic nonsense words “We’re seeing more voices coming from the Republican presidential candidates. Are we asking for more voices from the other side?”
This issue is schedule President Trump on Friday announced he would impose Soviet-style price controls on food, his first major policy speech since becoming the Democratic nominee, as he continues to face criticism for a lack of policy direction.
Joshua Klein is a reporter for Breitbart News. Email him at jklein@breitbart.com. Follow him on Twitter. Joshua Klein.
