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Critics blast Harris’ grasp of inflation, attack on business ahead of policy speech: ‘Lunatic behavior’

August 16, 2024
in Business, News, Politics
Reading Time: 3 mins read
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Critics blast Harris’ grasp of inflation, attack on business ahead of policy speech: ‘Lunatic behavior’

Vice President Kamala Harris, the Democratic presidential nominee, speaks at a campaign rally Aug. 10, in Las Vegas. (AP/Julia Nikhinson)

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Vice President Kamala Harris is set to unveil her economic plan this Friday in Raleigh, North Carolina, and it’s already generating a lot of buzz. Her approach is expected to have a strong focus on tackling corporate “price gouging,” a move that her critics claim is a way to shift attention from the administration’s handling of inflation.

Michael Tyler, communications director for the Harris-Walz campaign, shared on CNN that the plan will aim to reduce costs for middle-class families, highlighting Harris’s commitment to making the economy work for everyone. According to Tyler, Harris knows that “prices remain too high for too many families,” and addressing this issue will be a “day one” priority.

However, conservatives are pushing back, questioning why this focus on inflation is only now being prioritized. They argue that the administration has had ample time to address the issue. E.J. Antoni pointed out, “Day one in office was 3½ years ago. What have you been doing in the meantime to tackle inflation? You’ve been creating it.”

In anticipation of her speech, Harris’s team has also hinted at a proposal to introduce federal controls on food and grocery prices, aiming to curb what they describe as unfair corporate practices. This proposal would empower the Federal Trade Commission and state attorneys general to penalize companies setting excessively high prices. While the Harris camp sees this as a necessary step to protect consumers, critics have labeled it “Marxist” and “anti-free market.”

When Kamala Harris cites price gouging by grocers, these are the industry profit margins she's railing against. pic.twitter.com/IYnWjxLa07

— Jared Walczak (@JaredWalczak) August 15, 2024

As the debate heats up, it’s clear that Harris’s economic plan is poised to be a central issue in her campaign. With rising costs hitting Americans hard, especially in areas like housing and groceries, the stakes couldn’t be higher. The consumer price index (CPI) showed a 2.9% increase from last year, with housing costs leading the way—a concern that directly impacts household budgets across the country.

As we await Harris’s formal announcement, the conversation around inflation and economic policy is sure to continue dominating the headlines. Whether her proposals will resonate with voters or face strong opposition remains to be seen.

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