https://www.nationalreview.com/corner/kamala-harriss-first-policy-proposal-is-economically-illiterate/
On policy, Kamala Harris is starting to put some meat on her campaign’s otherwise bare bones. Her earliest attempt at setting policy involved brazenly appropriating Donald Trump’s plan to eliminate taxes on income derived from tips, which enthused neither progressives nor anyone else who understands how broad-based income tax relief actually works. But the vice president’s first real effort to expound on her own economic thinking is no less vacuous. Ahead of what her campaign is promoting as an economic policy speech on Friday, Harris previewed her plan to reduce consumer prices. So far, it seems her plan consists of simply ordering prices to be lower.
“Vice President Kamala Harris on Friday will call on Congress to pass a federal ban on price gouging as part of her economic platform to lower grocery prices and everyday costs,” Politico reported on Wednesday night. This float is light on details, but the dispatch indicated that Harris would enforce her plan to impose price stability on the market by decree via the Federal Trade Commission, which would be empowered along with state attorneys general “to investigate and levy penalties on food companies that violate the federal ban.”
That sounds a lot like a series of proposals Joe Biden outlined in his February State of the Union address, during and after which the president attacked companies that raise prices in response to macroeconomic conditions or attempt to meet demand by reducing the amount of product available for the same price — what Biden deemed “shrinkflation.” You remember that, right? Of course, you don’t! Because nothing at all came of it. It was a rank pander to the economically illiterate. And despite the presence of many who fit that description in the federal legislature, there are enough members of Congress who understand that allowing the executive branch to functionally set prices is a braindead idea that would only hurt consumers in the long run.