In her campaign’s first original policy revelation, it was recently reported that Kamala Harris’s plan to deal with inflation, which she and Biden created, was to create top-down price controls.
Washington correspondent for NBC News Yamiche Alcindor reported on the Harris campaign’s imminent Friday announcement on X.
“On Friday in North Carolina, Vice President Harris intends to announce a plan to prevent corporations in the food and grocery industries from unfairly jacking up prices on consumers by imposing the first-ever federal ban on corporate price-gouging in these industries.”
Reportedly, this plan would be backed by serious legal force. as “….she would also grant authority for the FTC and state attorneys general to investigate and impose harsh penalties on big corporations that choose to break these rules….”
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Republican Candidate Donald Trump has since responded to the reports, naming Harris’s proposal “The Maduro Plan” for its shocking similarity to the South American Communist Disctators disastrous economic policy, as posted by X user @BehizyTweets
“[The plan is] like something straight out of Venezuela or the Soviet Union. THis announcement is an admission her economic policies have totally failed,” Trump said.
BREAKING: Trump just called Kamala Harris’s food price control policy the “Maduro Plan” referring to the Venezuelan socialist dictator whose policy led to historic food shortages and over 7 million fleeing the country
pic.twitter.com/HWeXs3pDRP— George (@BehizyTweets) August 15, 2024
Trump’s accusations are not unfounded. In addition to being the Vice President, Harris was the deciding, tie-breaker vote in the Senate and holds direct responsibility for the highly inflationary “American Rescue Plan.”
Shark Tank Star and Investor Kevin O’Leary echoed the same message on Fox News, shredding the plan in a video posted by Western Lensman.
Kevin O’Leary shreds Kamala’s communist-styled price-fixing scheme, wonders if she can actually talk policy off-prompter, and labels “Bidenomics” as “Radioactive Waste.”
Ouch.
O’Leary: “The government is not going to control prices on protein or groceries or energy. it’s been… pic.twitter.com/e9Weg50aqB
— Western Lensman (@WesternLensman) August 15, 2024
However, according to Alcindor, Harris plans to reduce the issue of high prices to simple ‘corporate greed’ instead of the basic effects of supply and demand her inflationary policy has had on the economy.
Furthermore, price controls have a long history of failure, from Soviet Russia to Venezuela, as mentioned, as artificially lowering prices prevents producers from receiving the income practically necessary to keep providing goods and services. Price is not subject to legislation; only its proper recognition is.
The policy also represents another example of Harris attempting to distance herself from Biden’s Administration’s unpopular policies. In earlier days, she did this by borrowing policies and objectives from Trump herself, but this is her first original plan in the series.
However, when asked about the matter, Biden expressed his skepticism that Harris would diverge from his economic sensibilities or remain in lockstep, as posted by MAGA War Room.
Biden saying the quiet part out loud! pic.twitter.com/OE3QOl8Hfu
— MAGA War Room (@MAGAIncWarRoom) August 15, 2024
Either way, Kamalnomics would be no improvement to the Bidenomics disaster.
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