Kamala Harris Unveils New Big Government Plan To Massively Intervene in the America Economy

Harris is no friend of the free market

Democratic presidential candidate Kamala Harris wants to use big government to increase home ownership and fight so-called price gougers. 

According to an announcement made by ABC’s Senior White House Correspondent Selina Wang, Harris plans to roll out a proposal for the government to provide up to $25,000 in down payment support for first-time homeowners. 

First generation homeowners will receive even more generous benefits from the government, per campaign officials. Harris will also announce a plan to prohibit corporate price-gouging on groceries. 

The Harris plan for housing consists of a scheme to allegedly create 3 million new housing units, tax incentives for building starter homes, reduce rents by confronting corporate and large landlords, and preventing Wall Street investors from buying up properties in bulk. 

On top of that, Harris will plan to roll out a $40 billion fund to assist local governments in finding solutions to address housing supply issues. It builds upon a similar $20 billion fund that the regime of Joe Biden proposed. 

What Harris wants here is large-scale economic interventionism. Most of the ruling class still does not get that easy money and government policies that extended mortgages to economically suspect individuals caused the housing crash of 2008. Harris is merely doubling down on failure. A more sensible alternative for housing reform is to de-regulate certain facets of zoning laws such as repealing unnecessary environmental regulations that limit the overall stock of housing.

As for price controls, this is a violation of basic economics. When prices are artificially kept low, supply simply does not meet the increased demand, thereby creating shortages. There are more proactive ways to deal with price gouging such as the use of investigative journalists and independent organizations to highlight questionable corporate practices. This will get people to hold corporations accountable with their wallets, without having to use heavy-handed government intervention that ends up creating additional problems. 

More free-market mechanisms that emphasize sensible de-regulation and sound money, will put America back on the path to prosperity.