Former President Donald Trump accused Vice President Kamala Harris of promoting “Soviet-style” economic policies following her proposal to introduce price controls on groceries.
Harris’s campaign revealed intentions to implement a “federal ban on price gouging on food and groceries” to prevent “big corporations” from exploiting consumers.
In a Truth Social post on Friday, Trump criticized Harris’s plan, warning that prices would escalate significantly if she were to serve as President for four years. He claimed that Harris’s approach would bring about “Soviet Style Price Controls” and eliminate private healthcare, while imposing high taxes akin to California’s current policies.
Harris had previously suggested price controls, emphasizing the distinction between fair pricing in competitive markets and unjustified price hikes. She asserted that consumers could observe this contrast in their grocery expenses.
The proposal drew widespread criticism from commentators and economists who likened the concept to failed communist economies around the world.
A Harvard economist and former National Economic Council chair under President Obama, Jason Furman, disapproved of Harris’s plan, deeming it detached from reality and lacking sensible policy.
Washington Post columnist Catherine Rampell condemned Vice President Harris’s initiative to enforce federal price controls to combat grocery “price gouging,” describing it as a detrimental policy that would grant excessive control over pricing to government agencies.
Rampell highlighted the potential negative impacts of such controls, drawing parallels to failed economic strategies observed in countries like Venezuela, Argentina, and the Soviet Union. She also raised concerns about the unintended consequences of certain provisions within the proposed bill, suggesting that they could lead to unintended price increases and promote collusion among companies.
(Source: Fox News Digital)
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