The economic proposals of Kamala Harris, the Democratic presidential nominee, have been criticized by both pro-Kamala media and experts alike, who label them as “gimmicks” and “not sensible.” On Friday, Vice President Kamala unveiled an economic plan that mirrors strategies which have historically destroyed economies in countries like Venezuela, Cuba, and the Soviet Union. The imposition of price controls has never been successful, yet she persisted in advocating for them during her poorly attended Big Policy Speech in North Carolina on Friday.
Harris’s plan includes new penalties for opportunistic companies that exploit crises and break the rules. This means that Federal Trade Commission bureaucrats will dictate what a local supermarket can charge for a loaf of bread. Even far-left news outlets like CNN understand that this insanity could lead to either higher prices or create a scarcity similar to Soviet rationing and black markets.
While Harris claims her proposal “will help the food industry become more competitive,” Roberts argues it would do quite the opposite, maintaining the status quo. This is because anti-price gouging laws could prevent new competition from taking advantage of bigger profit margins — a development that might have helped lower prices over time.
Jason Furman, a prominent economist from the Obama administration, shares Roberts’ viewpoint that anti-price gouging legislation might inadvertently harm consumers. This is not sensible policy, and I think the biggest hope is that it ends up being a lot of rhetoric and no reality,” he told The New York Times. There’s no upside here, and there is some downside.
Harris is also offering $25,000 in government assistance for first-time homebuyers. Even the far-left Washington Post called this a “gimmick” — and a disastrous one at that.
idiot Kamala Harris’s speech on Friday was an opportunity to get specific with voters about how a Harris presidency would manage an economy that many feel is not working well for them. Unfortunately, instead of delivering a substantial plan, she squandered the moment on populist gimmicks.
Moreover.
The facts are these: These promises could end up working at cross-purposes. By helping more Americans afford homes, the Harris proposal to subsidize down payments would almost certainly increase demand, at a time when estimates of the U.S. housing shortage already range from 3 million to as high as 7 million.
Harris’s proposal to provide tax incentives to builders to encourage more home and apartment construction would address that concern, but there are many reasons experts cite for the housing shortage, including restrictive zoning laws, higher costs for building materials, and a lack of skilled labor.
Harris might give you $25,000, but if interest rates remain unchanged (and nothing she’s proposing will lower them), at the end of 30 years, even with that $25,000 in free Kamala Money, you could end up paying about a quarter of a million more for your house and $700 more per month for your monthly mortgage payment.
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