Price controls
J.D. Tuccille | 8.19.2024 7:00 AM
When you've caused a problem, deflect! At least, that seems to be the strategy of Vice President and Democratic presidential candidate Kamala Harris, who spent the last several years as part of an administration that presided over a growing mismatch between Americans' pay and the cost of living. Rather than take responsibility for the decline of the dollar's purchasing power, she blames businesses that were forced to raise prices as a result. And she wants to fix the problem she helped cause by restricting those prices, never mind the inevitable consequences for the availability of goods and services.
First though, let's journey back to 2023 when Harris claimed to be proud of the state of the economy.
"That is called Bidenomics, and we are very proud of Bidenomics," she insisted last August in a speech where she also trumpeted, "the unemployment rate is near its lowest level in over half a century. Wages are up. Inflation has fallen 12 months in a row."
Now though, the vice president and would-be chief executive huffs, "When I am President, it will be a day one priority to bring down prices. I'll take on big corporations that engage in illegal price gouging and corporate landlords that unfairly raise rents on working families."
And that's exactly what she proposed in her speech last week which recognized concerns over the cost of living and included a host of schemes for greater government involvement in the economy, including "the first ever federal ban on price gouging on food" amidst worries over grocery bills.
It's nice that Harris recognized Americans'........