Democratic nominee to draw contrast with Trump on tax and tariffs when she lays out details on Friday, aides say
Kamala Harris will announce plans to tackle high grocery costs by targeting corporations in the food and grocery industry, as she previews her economic agenda ahead of the November election.
She will also tackle prescription drug and housing costs, drawing a contrast with Trump on tariffs and taxes, according to a Harris campaign statement.
Harris is expected to lay out some details of her economic plan in a speech in North Carolina on Friday.
“Same values, different vision,” said one aide, describing how Harris’s economic agenda will compare with that of Joe Biden, who stepped aside as the Democratic presidential candidate last month.
You don’t. Price controls don’t work and usually backfire in the long run.
Instead, you modify the incentives which exist around prices via taxation. As a simplified example, if you want to prioritize lower prices on staples such as milk, vegetables or beef, then businesses which can show that their margins on those products are within a defined range pay 1% less on corporate taxes. The numbers and ranges would need to be discovered via both study and experimentation. But, by tying a savings for those business to their behavior, said behavior can be influenced. The prices can then be further manipulated lower in the logistical chain, either by direct subsidy or via similar manipulation of incentives to growers and distributors.
Yes, but functional capitalism requires regulation to prevent monopolies, collusion and other activities which distort markets. And there are plenty of areas where capitalism fails and government (read:socialism) needs to step in to provide something which society needs, but for which the incentives do not exist to provide it in an efficient manner. Or for which the efficient providing of that thing creates moral hazards. There is a reason we don’t privatize the military.