Kamala Harris Announces she Solution to inflation: Price controls. This could be a turning point for the 2024 elections.

Until now, she has kept her policy positions secret, refused interviews and claimed her staff had rejected her long-held extreme views.

But now, on the central issue of the election — inflation — she reveals she has no idea what causes it or how to stop it. Voters are seeing the real Kamala Harris, the one they can't forget.

Governments setting the prices of goods and services has a long history of failure. It's not just a bad idea; it's a very old and bad idea.

The failure of wage and price controls (you cannot control the prices of goods and services without first controlling workers' wages) is acknowledged by historians and economists of all political leanings. This is not a left or right debate. (RELATED: 'We've wasted this moment': Washington Post editorial board slams Kamala Harris' economic agenda as 'disappointing')

Government laws that set prices and wages and Rent is not a price-reduction. dDon't eliminate inflation.

Even the Swedish socialist economist Assar Lindbeck said“Rent control appears in many cases to be the most efficient means, short of bombing, of destroying cities as we know them.”

Harris' Endorsement The only “solution” to inflation has never worked she Two big spending bills, “American Rescue PThe Inflation Reduction Act and the RUN accelerated inflation to the point where Americans found that the dollar in their pocket was worth less than 80 cents today.

Inflation has always been, and always will be, caused by government spending and the government printing money to fund that spending. There is no other cause for inflation.

As Vice President PHarris, a resident, cast the deciding vote on the massive spending bill.ls — Increase federal spending by trillions of dollars.

Now she is acting to remind Americans of her complicity in Joe Biden's (yesterday's) unforgivable sins: that she was as much an author as Joe Biden of the price hikes we are still suffering from. but Her entourage hoped that a new face on the ballot might help Americans forget about it.

She reminded usl She has negated everything she has done and proven that she doesn't even know how to control inflation by simply spending less and printing less money. of Government Spending Programs Suggested It will undoubtedly lead to worse inflation. Biden Harris effort. (Related: CNN guest says Kamala Harris' housing proposal would 'boost the price of every home' in America by $25,000)

Today's headlines are reminiscent of the failure of price controls in the not-too-distant past, and this policy proposal evokes the differing approaches of Nixon, Carter and Reagan to dealing with inflation.

Last year, Argentina elected President Javier Milley and eliminated most of its rent control laws. Rents rose briefly but then fell dramatically as more properties became available for rent. Higher prices lead to more supply. If rents rise, who's going to rent out their basement apartments?control Keeping prices down? Removing price controls would allow more homeowners to rent out their space; Rental property It drops with the surge in availability.

Economists call this “supply and demand” and ordinary people call it “common sense.”

Richard Nixon's price controls failed to stop inflation, but the controls on oil continued.Many Americans Please remember pain I will never forget at least the photos of drivers waiting in line for rationed gas in the late 1970s, the crisis that cost Jimmy Carter his presidency..TRonald Reagan lifted gasoline price controls and gasoline prices fell. Reagan cut spending rates and shut down the Treasury Department's printing presses. Inflation fell from double digits.

To solve inflation, government spending needs to be reduced, and Harris wants the government to collect more taxes from people's income, including wages, energy, and capital gains. And as her spending promises to special interests, more money will have to be printed. These groups trivialize the massive tax increases she threatens daily.

The Harris campaign has made great efforts to distance itself from the spending, inflation and massive government regulation of the Biden-Harris administration.

But in just one day, Kamala has told the world that she has a much less profound understanding of what causes inflation and how to fix it than Biden, Carter, or even the socialists of Europe.

There is no “joy” in the failure of price controls — not during the fall of the Roman Empire, not during the Carter recession, and not today.

Grover Norquist is president of Americans for Tax Reform, which has documented Kamala Harris' economic proposals. Kamalanomics

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