CNN criticized Kamala Harris’s proposal for Soviet-style price controls, warning that it could result in higher prices and shortages.
During her visit to North Carolina, Kamala Harris announced a price control plan reminiscent of Communist policies as a response to the inflation crisis she helped create.
Harris broke a tie vote on the ‘Inflation Reduction Act,’ which exacerbated inflation for Americans. The surge in food prices has been attributed to the actions of Joe Biden and Kamala Harris.
Biden targeted grocers, threatening to unleash state attorneys general on them for alleged price gouging, despite evidence showing that grocers’ profits are currently at 1.2%, well below the all-industry average of 8.5%.
Kamala Harris's campaign claims grocery stores are price-gauging, but they're not. If they were, their annual profits wouldn't be just 1.2% when the all-industry average is 8.5%. The media will likely hide those numbers tomorrow when they fluff Harris' proposal. https://t.co/55oAOsxl1L pic.twitter.com/ysrV5Fa0SM
— Michael Shellenberger (@shellenberger) August 15, 2024
During a campaign speech at Wake Tech Community College in Raleigh, North Carolina, Harris put forward risky price controls to a small audience.
Vice President Kamala Harris is speaking at Wake Tech Community College in Raleigh today. She’s set to address lowering costs for American families via housing, medical costs, grocery prices, and child tax credits. More to come @NCNewsline #ncpol pic.twitter.com/dZGgGBvEZd
— Christine Zhu (@christinezhu142) August 16, 2024
“My plan will include new penalties for opportunistic companies that exploit crises and break the rules, and we will support smaller food businesses that are trying to play by the rule and get ahead,” Kamala Harris said. “We will help the food industry become more competitive.”
WATCH:
BREAKING: Kamala Harris proposes a Soviet-style, communist price control scheme similar to Venezuela and Cuba pic.twitter.com/rCwMoKfde0
— Trump War Room (@TrumpWarRoom) August 16, 2024
CNN is reporting that Kamala Harris’ price controls are so dangerous that they could result in food shortages and uncertainty.
“We‘ve seen this kind of thing tried in lots of other countries before. Venezuela, Argentina, the Soviet Union etc…it leads to shortages. It leads to black markets and leads to uncertainty,” CNN economics and political commentator Catherine Rampell said on Friday.
WATCH:
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