Former Trump economic adviser reacts to Kamala Harris' 'price hike' plan

Former Trump administration official Kevin Hassett said on Friday that Vice President Kamala Harris' proposal to “price things” was “absolute socialism” during an appearance on Fox News.

Harris is expected to to announce the plan to ban “price gouging” by grocery corporations during a speech Friday in North Carolina, which will be enforced with “tough penalties” imposed by the Federal Trade Commission, seconds in the New York Times. Hassett said similar policies have caused shortages when tried historically in places like Cuba, Venezuela and the Soviet Union.

WATCH:

'Most terrifying proposal I've ever seen': Former Trump economic adviser reacts to Kamala Harris' price control policy pic.twitter.com/WQc9bJ6vuf

— Daily Caller (@DailyCaller) August 16, 2024

“For an economist, this is the most terrifying proposal I have ever seen. Because what Kamala Harris says is that the government has to set the price of things and she starts with food, but I guess if they set the price of food, they might as well set the price of everything else,” Hassett told ” Fox.” and Friends,” co-host Brian Kilmeade. “They've also come out, you might remember, the Biden administration saying they want to fix rents, they think the rents are too high, so they're going to have the government decide what the rent your apartment. This is absolute socialism and it never ends well. If you go back and look at the countries that have tried it, like Cuba, Venezuela, Ukraine when the Soviet Union organized it, then it leads to hunger and scarcity.”

Harris has blamed corporations for the higher prices, claiming that the alleged price hike is responsible for inflation, but economists have said that corporate behavior has not had as much of an effect on rising food costs such as government stimulus efforts and low interest rates set by the Federal Reserve. the New York Times informed.

“I was in Lisbon, Portugal, where they still have very aggressive rent control, and all the apartments are empty because the owners of the buildings can't afford to rent them to people because the rent is so low.” Hassett said. he continued “And so this is an absolute disaster, this is socialism at its finest, and the scariest thing is, think about it, it's right before the Democratic National Convention, she's the nominee, she should try to moderate her positions to appeal to swing voters and instead lean toward socialism. So what it means is that these people are like, these people really believe in socialism and they want to change this country, and they are willing to say it upfront, and it's surprising that he does.”

The consumer price index increased 2.9% year-on-year in July, down from a recent high of 9.1% a June 2022. prices rose up more than 20% since President Joe Biden and Harris took office in January 2021.

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