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Harris Proposal Stirs Debate
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Harris Proposal Stirs Debate

Ladies and gentlemen, let’s dive into the latest in political drama. It's no secret that Vice President Kamala Harris has been keeping a low profile ever since she snagged the 2024 Democratic nomination from President Joe Biden. Thanks to the behind-the-scenes maneuvering of donors, Nancy Pelosi, and party bosses, Harris is now the face of the party. But here's the kicker—her campaign has been doing everything it can to keep her out of the media spotlight. And frankly, it’s easy to see why.

Harris isn’t exactly known for her media prowess. In fact, if her recent responses are any indication, her team might be wise to keep her in a bunker for the foreseeable future. When labeled an “extreme leftist,” her reaction didn’t exactly inspire confidence, and that’s likely why her team is keeping a tight lid on her public appearances.

Now, let’s talk about that Washington Post headline that hits the nail on the head: “When your opponent calls you ‘communist,’ maybe don’t propose price controls?” This headline couldn’t be more spot-on—or more amusing. Catherine Rampell didn’t hold back when she criticized Harris’ latest proposal, which she dubbed a Soviet-style approach to combating supposed price-gouging at grocery stores.

Rampell’s assessment of Harris’ policy is pretty brutal, and it’s hard to argue with her points. This proposal isn’t just bad—it’s potentially disastrous. We’re talking about a sweeping set of government-enforced price controls that could extend across every industry, not just food. Imagine a world where supply and demand no longer determine prices—where distant Washington bureaucrats are in charge of deciding what you pay for your groceries. Sounds like a recipe for disaster, right?

And that’s not even the worst of it. Such a policy could lead to all sorts of unintended consequences: shortages, black markets, hoarding, and more. These are the same problems that have plagued countries that tried to control price growth by government mandate. There’s a reason why existing “price gouging” laws in some states are rarely used—they often do more harm than good.

But it gets even more complicated. Harris’ plan could inadvertently raise prices instead of lowering them. For instance, the legislation would ban companies from offering lower prices to bulk buyers like Costco, which could spell the end for quantity discounts. Even worse, it would force public companies to publish detailed internal data about costs, margins, contracts, and future pricing strategies. This kind of transparency might sound good in theory, but in practice, it could actually encourage companies to collude, keeping prices artificially high—with the government’s help, no less.

Written by Arthur Higgens - August 19, 2024