Even the media realizes thar the kamala economic plan is a mess
"Whether the Harris proposal wins over voters remains to be seen, but if sound economic analysis still matters, it won’t," the liberal-leaning Washington Post editorial board wrote on Friday.
The Post’s editorial board took Harris to task on the idea, stating it’s not even clear what her plan is. "Ms. Harris says she’ll target companies that make ‘excessive’ profits, whatever that means."
Columnist Catherine Rampell wrote on Thursday, "It’s hard to exaggerate how bad this policy is. It is, in all but name, a sweeping set of government-enforced price controls across every industry, not only food
Rampell added that it flies in the face of free market economics, adding that "Supply and demand would no longer determine prices or profit levels. Far-off Washington bureaucrats would. The FTC would be able to tell, say, a Kroger in Ohio the acceptable price it can charge for milk."
In a Thursday night segment, CNN anchor Abby Phillip scoffed at the proposal, appearing to agree with National Review senior writer Noah Rothman that the plan is just a tactic to snag "economically illiterate" voters.
CNN economics reporter Elisabeth Buchwald published a report Friday featuring experts detailing how "Harris’ plan to stop price gouging could create more problems than it solves."
Obama administration economist Jason Furman, who told the New York Times, "This is not sensible policy, and I think the biggest hope is that it ends up being a lot of rhetoric and no reality."
Mesa quoted Cato Institute Vice President of General Economics and Trade, Scott Lincicome, who said, "The idea of a political solution to an economic non-problem is flawed. There's very little evidence that corporate greed or price gouging is responsible for high grocery or housing prices."
Kansas State University agricultural economist Glynn Tonsor told Newsweek that corporations aren’t’ necessarily gouging prices, they’re often just trying to deal with their own rising expenses. "The cost of raising the animal, converting it into meat, and getting that meat to consumers is higher than it was," he said.
Lincicome rounded out the argument, adding, "Preventing price increases sounds good, but what do investors and farmers do when they can't guarantee a return on investment or cover their costs? They cut back on investment, leading to reduced supply and even higher prices or outright shortages."
