Fox News contributor Michael Lee sat down for an interview with Maria Bartiromo of FOX Business where he predicted that if Vice President Kamala Harris becomes the next president, it will immediately result in an economic recession. When you look at how bad things are already, the forecast of things taking a turn for the worse is enough to make you lose sleepy at night. It already costs an arm and a leg to afford basic necessities at the grocery store. I can’t imagine how much higher the price of goods will rise if Harris takes over as the commander-in-chief.
"If Kamala becomes the president, recession is imminent." pic.twitter.com/lbEoOXTK5e
— Trump War Room (@TrumpWarRoom) August 16, 2024
Lee mentioned during the segment that one of the most dangerous elements of Harris’s economic plan was that of price controls designed to put a stop to “price gouging,” but are in reality nothing more than wealth redistribution tactics ripped right from the communist playbook. Along with this, Harris’s plan includes increased government spending in order to make homeownership more affordable. Apparently, the left has learned nothing from the first housing bubble burst back in 2008.
Check out this explanation of price gouging tactics from The Washington Times:
Among the policies are unprecedented price controls on food and groceries, which her campaign says is necessary because corporations are “price gouging” Americans at the stores. Under her plan, the Federal Trade Commission and state attorneys general would have the authority to impose harsh penalties on companies they claim are setting prices too high.
“There’s a big difference between fair pricing in competitive markets and excessive prices unrelated to the costs of doing business,” the Harris campaign went on to say in a statement that announced the plan.
Former President Donald Trump’s campaign slammed the idea as “socialist policies.”
“Kamala Harris has had three-and-a-half years in office and all she’s done is break the economy. Kamala can’t shake the stench of Bidenomics, which she repeatedly praised,” Trump campaign spokeswoman Karoline Leavitt commented about Harris’ price controls.
Many economists have weighed in on the plan and said that it would obliterate our already unstable economy by decreasing incentives to create food since the profits for doing so will be tightly controlled. That’s communism for you.
“Can someone give us a lesson on what happens to an economy/county when the incentives to create and produce are destroyed,” Ryan Walker, an economist with the conservative Heritage Foundation, said on X. “The catch for the left is that will still expect food to be produced and shelves to be fully stocked after they destroy the industry.”
Jared Walczak, vice president of state projects at the Tax Foundation, noted that grocery stores have a 1.2% profit margin, while other industries have an average of a 7.6% profit margin. Ms. Harris is adopting and expanding President Biden’s explanation that corporation greed is responsible for soaring inflation, but some economists have pointed the finger at massive government spending by the administration.
Harris is proposing an offer of $25,000 from taxpayer funds to help provide down payment support for individuals who are looking to buy their first homes. These funds will be made available to working families that have paid their rent on time for at least two years. Even more monetary support will be given to those who are first-generation homeowners. The vice president’s plan also calls for the building of 3 million new housing units to bring an end to the housing supply shortage.
Again, it’s critical to note all of these things cost big, big bucks. Where is the money coming from for these projects? From you and me. That means we have less money available to take care of our families. Harris wants to do her part to destroy the middle class and put as many people deep in the pit of poverty as possible.
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