Jason Furman, a former economist for President Barack Obama, on Thursday slammed Vice President Kamala Harris’ price control policies, calling them “exaggerated and unrealistic.”
Harris blames soaring food inflation on corporations squeezing consumers for their money, and her solution is for the federal government to ban corporations from squeezing consumers for their money through socialist price controls.
“This is not smart policy, and I think our best hope is that it’s just rhetoric and not a reality,” Furman said. said of The New York Times On Thursday.
“There’s no good here, but rather some bad,” he added.
Furman is not the only prominent leftist to criticize Harris’ policies. The Washington Post, Hit This policy is stupid:
It’s hard to overstate how terrible this policy is. It is total government price control in all but name, not just in the food industry but in all industries. Supply and demand would no longer determine prices and profit levels; they would be determined by far-away bureaucrats in Washington. The FTC could tell, say, Kroger in Ohio, what a reasonable price it could charge for milk.
At best, this is Shortage, Black Market and StockpilingBetween Other distortions We can see from past examples where countries have tried to limit price increases through legislation. (There’s a reason why the more limited “price gouging” laws in some US states are rarely invoked.) At worst, prices could rise accidentally. increase price.
That’s because the bill would prohibit companies from offering larger customers like Costco lower prices than Joe’s Corner Stores — thus volume discounting — and, even worse, it would force publicly traded companies to publish detailed internal data about their costs, margins, contracts, and future pricing strategies. Publish your costs and pricing plans teeth A great way Companies collude to keep prices high — It’s all facilitated by the government.
Prices under a Biden-Harris administration Increased Overall, prices are up about 20 percent. Food prices are up 26 percent, according to the Labor Department.
On inflation, the issue most frequently cited by respondents, 87% of Americans believe the administration’s policies have had either a negative impact or no impact, according to a June Monmouth University poll.
Wendell Fsebo is a political reporter for Breitbart News and a former war room analyst for the Republican National Committee. He is the author of: The Politics of Slave MoralityFollow Wendell “X” @WendellHusebø or The truth of society @WendellHusebo.
