The Kamala Harris campaign announced today that it will present a plan to ban “price gouging” by food suppliers. In other words, the Harris campaign plans to mandate price controls. According to UPI:
Vice President Kamala Harris will propose a federal ban on corporate food and grocery price gouging when she lays out her policies in a North Carolina campaign speech Friday.
According to the campaign, the proposal against price gouging is part of the larger Harris economic policy platform she plans to roll out publicly at a Friday campaign rally in Raleigh.
“There’s a big difference between fair pricing in competitive markets, and excessive prices unrelated to the costs of doing business,” the Harris campaign said in a statement. “Americans can see that difference in their grocery bills.”
Directly addressing soaring meat prices, Harris will focus on corporate consolidation in that market as one reason meat prices are so high.
Get ready for rising prices and shortages in meat and other groceries, because that’s where laws against “price gouging”—which are price controls—lead.
We know this because it’s happened before in the United States. In the 1970s, thanks to years of big-time federal spending on wars and welfare programs, the US abandoned its gold obligations under the Bretton Woods system, and Nixon closed the gold window.
Hellbound and Down 