CNN Analyst Destroys Kamala Harris' 'Grocery Price Gouging' Proposal [VIDEO]

CNN political commentator Catherine Rampell expressed significant skepticism about Vice President Kamala Harris' proposal to ban grocery price increases during a recent segment with Pamela Brown.

Pamela Brown asked Rampell about her doubts and asked, “Catherine, I hear, I read your article and I heard that it only mentions the federal ban on grocery price gouging. You're skeptical of that. For what?”

🚨🚨🚨 MUST SEE 🚨🚨🚨

CNN just DESTROYED Kamala Harris' economic agenda.

“We've seen this kind of thing tried in many other countries before. Venezuela, Argentina, the Soviet Union … it leads to scarcity” and “would cause a lot of harm.” pic.twitter.com/pFEMYDjpN0

— House Republicans (@HouseGOP) August 16, 2024

Red Beach Nation Freedom-Loving Beachwear – Save 10% with code RVM10

Rampell explained his concerns, stating, “Well, first of all, nobody can explain what price gouging means. It's like that old line about pornography. I know it when I see it in the sense that, what does it mean to have an excessive price or an excessive profit margin? It seems to be short for a price or an excessive profit margin. So, you know, it's very difficult to determine what that would actually mean.”

He criticized the legislation currently being considered, spearheaded by Senators Elizabeth Warren and Bob Casey, noting: “The particular way it's written, which is likely to be the template for any proposal that Harris would eventually accept, is particularly bad because it only prohibits excessive pricing, extremely excessive pricing, grossly excessive profit margins, and it says that the Federal Trade Commission can use whatever metric it sees fit to decide what that would mean, which basically says, like, they're not going to be markets, they're not .it will be supply and demand”.

Rampell further argued, “It's going to be a bureaucrat in DC, which seems totally unworkable. First, let the FTC decide how much Kroger charges for eggs in Michigan. But it would also be very bad for the markets. We've seen this kind of thing tried in many other countries before, Venezuela, the Soviet Union, etc. It leads to black markets, you know, a lot of uncertainty.”

He also highlighted the potential negative effects of the bill's provisions, stating, “The specific way this bill is written could increase prices because of some of the other language in there, things like requiring that companies, the public companies, disclose in their quarterly reports, quarterly earnings reports, how they're pricing, which is a good way to help them collude, which we don't normally want them to do.”

Rampell concluded, “The devil is in the details, I guess, for this bill. But I have a hard time imagining any form of legislation that preserves the spirit of what she's proposing that isn't, you know, at best, do nothing. At worst, it causes a lot of harm.”