Steve Forbes, editor-in-chief of Forbes magazine and a Republican businessman, slammed Vice President Kamala Harris' economic plan on Fox Business on Thursday, calling it “modern-day socialism” and saying the VP wants to “control” America, not “liberate” it.
Forbes appeared on “The Evening Edit” with host Elizabeth MacDonald to discuss Harris' proposal to impose a federal ban on “corporate price gouging” at food and grocery stores. He highlighted high inflation under President Joe Biden and predicted that voters would “see through” Harris' plan, comparing it to the policies of North Korea, Cuba and the former Soviet Union. (RELATED: 'Radioactive waste for voters': Kevin O'Leary says Kamala Harris 'needs to get rid of Biden' to win the support of Americans)
“This is not about liberalizing the economy, this is about controlling the economy. I think the American people will see through that. This never works. If you want to see how well it works, go to North Korea, Cuba, the former Soviet Union. Check it out, Kamala,” Forbes said.
“I don't think the American voter is going to accept the collapse of the American economy, something that will hurt the economy rather than help it. Let's open up the economy, as President Trump is proposing,” Forbes continued. “Remove the shackles, reduce regulations, cut taxes, and I'm sure the American people will pull through, as they have done so far.”
McDonald went on to accuse Harris of wanting a “socialist-like big government solution”, which Forbes called a “failed formula”.
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“This is modern-day socialism. Instead of taking over things, you just regulate them to the core, ruin them and blame the people running them, even if it means putting them out of business. This is a failed approach and I don't think we should have to go through that,” Forbes said.
Harris is due to unveil her full economic agenda in a speech in North Carolina on Friday, where she is expected to blame rising grocery store prices on corporate consolidation and greed. According to According to The Hill, the July Consumer Price Index (CPI) report showed inflation down 2.9% year-over-year, but food prices overall were up 1.2%. Elevated That's up more than 20% since Biden took office in January 2021.
An August poll by the Financial Times and the University of Michigan found that Harris led former President Donald Trump by one percentage point in the share of Americans who think she has the best control over the economy, even though nearly half of respondents believe the Biden administration's policies have “harmed the economy.” But the data still showed that 42% of voters believe a reshuffle of the Trump administration would “be better off” economically, while 33% said the same about Harris.
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