Marc Abear: Harris' proposal to curb price gouging amounts to communism

To The Daily Sun,

Sen. Elizabeth Warren supports and defends Vice President Kamala Harris’ proposal to implement federal price controls on food and groceries.

Not everyone agrees with government intervention in private markets. There is no reason to institute price controls. Grocery stores typically operate on razor thin profit margins. This fact alone makes enforcement of price controls impractical.

VP Harris’ proposal is aimed at curbing price gouging in the food industry but she hasn’t made the case price gouging exists.

Her plan seeks to ban inflating prices. If she wanted to ban inflation of prices why has she not reigned in governmental spending in the last four years? The argument is a red herring.

She sees a benevolent government moving to protect consumers from soaring costs. Her proposal is communism. It has drawn criticism from most economists. They argue price controls fail to achieve their intended effect. Historically, price controls are demonstrably counterproductive, leading to shortages, higher prices and black markets.

Interventions such as price controls disrupt supply and demand mechanisms governing market prices. When prices are artificially suppressed, it deters competition. Competition is the market’s built-in-method for keeping prices in check.

Price controls distract from the real drivers of inflation, e.g. excessive government spending, lingering supply chain disruptions and bad monetary policy.

Belief does not require reason, facts or logic. It relies on tenants of faith. Sen. Elizabeth Warren staunchly defends communism because she believes government is good; and more government is better.

Debates are why we have elections. Do voters think people are good? Do they think good people get together and make good governments? If they think that: Why do governments collect taxes? Why do they take our stuff? Do they really know better than us, how best to use our money? Government isn’t forced charity. Think about it.

Marc Abear

Meredith