Larry Kudlow Critiques Kamala Harris' Economic Policy

In a recent announcement in North Carolina, Vice President Kamala Harris unveiled her economic plan, which has drawn sharp criticism for its proposed price controls. Critics, including Democratic economists and major media outlets like The Washington Post, have likened her approach to outdated socialist policies reminiscent of the 1930s Great Depression and the economic failures of the Soviet Union and modern Venezuela. The plan is characterized as a command-and-control strategy that many believe lacks feasibility. Key components of Harris' proposal include a $3,600 child tax credit projected to cost around $1 trillion over the next decade, a newborn child credit estimated at $100 billion, and a $25,000 home mortgage subsidy that could add another $250 billion to the fiscal burden. Additional elements include new tax credits for Obamacare, an increase in the earned income tax credit, and controversial student loan cancellations, although specific details remain unclear. A significant aspect of the plan is the introduction of a federal ban on "price gouging" for food and groceries, which critics argue is merely a rebranding of traditional price controls. Former President Donald Trump has publicly condemned the proposal, asserting that such measures have historically failed and questioning the very definition of price gouging. As the details of Harris' economic strategy continue to emerge, the debate over its viability and potential impact on the economy intensifies, with many skeptics urging a reevaluation of such policies.