Harris unveiled several economic policies she would attempt to implement, including forcing taxpayers to subsidize first-time home buyers up to $25,000 as well as controlling prices on groceries and prescription drugs.
This week and during a North Carolina rally, Harris unveiled economic policies that she would be taking in the United States, including forcing taxpayers to subsidize first-time home buyers up to $25,000, controlling prices on groceries, housing, and prescription drugs.
Harris said on Friday during an event in North Carolina that bringing down prices would be a priority if she became president and that she would go after landlords and grocery chains for "price gouging." Grocery stores usually operate on 1-3 percent margins for profits, as the market for food is very competitive and the supply of food is plentiful in the United States.
"I will go after the bad actors and I will work to pass the first-ever federal ban on price gouging on food," she said at the event.
Harris pointed to the COVID-19 pandemic as the root cause of inflation, saying that supply chains were broken down at its onset, but that prices are "still too high" after the supply chains have improved. "We all know that prices went up during the pandemic when the supply chains shut down and failed, but our supply chains have now improved and prices are still too high," Harris stated.
The Harris camp has also promised to fight for price caps on prescription drug costs, making the costs not more than $2,000 annually for all Americans. Harris is also wanting to eliminate medical debt for all Americans, according to The Hill.
According to Executive editor at the Mises Institue and former economist for the State of Colorado Ryan McMaken, during the Soviet era of the mid-1900s the regime attempted to tamp down inflated prices with controls, but the measures led to shortages.
McMaken wrote of the Soviet Union policies of the 1900s in a 2022 article, “Prices were kept under control not through fiscal discipline, but through price controls. This led to shortages because, if wages were rising while goods prices could not, demand quickly exceeded supply. Soviet citizens often found they had very little to spend their money on, with the result being the long queues and empty store shelves we now associate with the Soviet economy."
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