Listening to Kamala Harris’s economic plans, there wasn’t one that I hadn’t heard of before. Of course she’s going to crib from others because she really has no idea how to fix the economy. It seems she started by peeking at Donald Trump’s paper and stealing his idea for not taxing tips. This from a woman who supported adding 80K+ IRS agents and wanting to tax the bejeezus out of the rich, the ‘rich’ being anyone with a job.
Then she talks about subsidizing first time home buyers, giving them $25,000 to help with the down-payment. But she doesn’t mention where she’ll get the money to do that. I guess she’ll just have the Treasury crank up the printing presses and add even more to the $3.5 trillion annual deficit being run by the Biden-Harris Administration.
Another thing she brings up is price controls, something that has never worked, ever. You’d think she would have learned that from history, particularly when President Nixon tried it, imposing wage and price controls in 1971 as a way to fight inflation. It failed spectacularly and fueled worse inflation than if he had done nothing. (Yes, there were other measures he took that also added to the problem, like taking the US off the gold standard, in effect rendering the Bretton Woods system inoperative.)
The long defunct Soviet Union used wage an price controls which made the Soviet economy unresponsive to changing economic conditions, even regular cyclical changes caught the Soviets off guard and they couldn’t seem to adapt because their economic bureaucracy was laden down by inertia. Does Kamala think it will be any different here? Of course she does...and she’s wrong.
She’s also going after businesses, particularly food retailers, for “price gouging” even though I doubt she could point to any supermarkets that have done so. I’ve even heard references to dealing with “looters and hoarders”, something right out of Das Kapital and Atlas Shrugged. (I have no doubt she’s familiar with the first, but not the second.)
So many of the things she’s talking about doing that have been tried before, but they didn’t work. They sounded good, but in real life they made things worse.
Do we really want someone who has no understanding of economics, is ignorant of history, and will do as much damage as she can to the American economy all in the the name of “equity”?
