If "price gouging" is happening, why didn't Biden & Harris stop it? (Poll)

[Moonglow]

Quantitative tightening is the current phase of the Fed's activity and has been for three years.

 

[Care4all]

Is price gouging by greedy corporations happening or not?

If so, why didn't Biden and Harris stop it, there are laws on the books already. Show us examples.

If not, then why are they lying?

That's an easy one. Biden and Harris are lying about price gouging. Its their stupid policies that are causing runaway inflation.

https://www.cnn.com/2024/08/16/business/harris-price-gouging-ban-inflation/index.html

Harris’ plan to stop price gouging could create more problems than it solves​

Jason Furman, a top economist in the Obama administration, shared Roberts’ view that anti-price gouging laws could inadvertently harm consumers. “This is not sensible policy, and I think the biggest hope is that it ends up being a lot of rhetoric and no reality,” he told the New York Times. “There’s no upside here, and there is some downside.”

FACT SHEET: President Biden Is Taking Action to Lower Costs for Families and Fight Corporate Rip-Offs | The White House

President Biden is fighting to lower costs for American consumers—and he is taking action to address corporate price gouging. Congressional Republicans

www.whitehouse.gov

 

[jknowgood]

Inflation didn't just start a year ago.

That's when I really started to really notice it.

 

[marvin martian]

Is price gouging by greedy corporations happening or not?

If so, why didn't Biden and Harris stop it, there are laws on the books already. Show us examples.

If not, then why are they lying?

That's an easy one. Biden and Harris are lying about price gouging. Its their stupid policies that are causing runaway inflation.

https://www.cnn.com/2024/08/16/business/harris-price-gouging-ban-inflation/index.html

Harris’ plan to stop price gouging could create more problems than it solves​

Jason Furman, a top economist in the Obama administration, shared Roberts’ view that anti-price gouging laws could inadvertently harm consumers. “This is not sensible policy, and I think the biggest hope is that it ends up being a lot of rhetoric and no reality,” he told the New York Times. “There’s no upside here, and there is some downside.”

Why would they stop something they created and wanted?

 

[airplanemechanic]

Why didn't Trumpy stop it?

Tell me what specific policies is causing runaway inflation.

With 1.2% inflation, it's hard to make a case for price gouging. I mean, to quote Kumalot, price gauging.

 

[struth]

Why didn't Trumpy stop it?

Tell me what specific policies is causing runaway inflation.

um, Trump didn't say it was happening....because we had low inflation when Trump was in office.

what a weird and stupid question

 

[DBA]

Inflation has many causes and those who say it’s just because of Biden are low information partisan hacks.

As are those that don't acknowledge that his bad policies played a role and also those that claim that Biden was dealt a bad hand because of Trump's policies, not COVID.

 

[kyzr]

Where did you get your data because that’s WAY off.

Food Processing Profit Margins​

According to CSIMarket, the gross profit margin for the food processing industry was 31.99% in early 2024. That was above the total market average of 25.18%. Furthermore, the EBITDA margin for food processing was 20.49%, which was above the total market figure of 3.09%. Finally, the net profit margin in the food processing industry was 12.1%, far higher than its 2019 figure of 5.16%. It was once safe to say that profit margins in the food processing industry are generally lower than average.

Food processing is only one part of the cost of groceries,

What is the Profit Margin for Grocery Stores? | The Grocery Store Guy

What is the profit margin for grocery stores? Conventional grocers have a profit margin of about 2.2%, but, natural, organic, and gourmet stores often . . .

thegrocerystoreguy.com

Conventional grocery stores have a profit margin of about 2.2%, making them one of the least profitable industries in the US.

 

[kyzr]

Biden taking action to lower cost of groceries...

Junk fees? How about deporting 15,000,000 to lower demand for groceries?

 

[Marener]

As are those that don't acknowledge that his bad policies played a role and also those that claim that Biden was dealt a bad hand because of Trump's policies, not COVID.

Trump’s policies had a part so he was dealt a bad hand. COVID had a part and so he was dealt a bad hand there too.

Biden’s policies undoubtedly had some effect, but Trump was supporting a lot of the same things like the third round of stimulus checks.

 

[Marener]

Food processing is only one part of the cost of groceries,

What is the Profit Margin for Grocery Stores? | The Grocery Store Guy

What is the profit margin for grocery stores? Conventional grocers have a profit margin of about 2.2%, but, natural, organic, and gourmet stores often . . .

thegrocerystoreguy.com

Conventional grocery stores have a profit margin of about 2.2%, making them one of the least profitable industries in the US.

And they are driving up the cost of groceries by increasing prices and expanding their profit margins.

As I said and contrary to your denials.

 

[Superbadbrutha]

um, Trump didn't say it was happening....because we had low inflation when Trump was in office.

what a weird and stupid question

I'm still waiting for your dumbass to post the Biden policies you claimed caused high inflation.

 

[Foxfyre]

Is price gouging by greedy corporations happening or not?

If so, why didn't Biden and Harris stop it, there are laws on the books already. Show us examples.

If not, then why are they lying?

That's an easy one. Biden and Harris are lying about price gouging. Its their stupid policies that are causing runaway inflation.

https://www.cnn.com/2024/08/16/business/harris-price-gouging-ban-inflation/index.html

Harris’ plan to stop price gouging could create more problems than it solves​

Jason Furman, a top economist in the Obama administration, shared Roberts’ view that anti-price gouging laws could inadvertently harm consumers. “This is not sensible policy, and I think the biggest hope is that it ends up being a lot of rhetoric and no reality,” he told the New York Times. “There’s no upside here, and there is some downside.”

Biden/Harris didn't cause the initial inflation--neither did Trump--but Biden/Harris policies and massive wasteful spending have certainly exacerbated it and kept it much higher than it had to be while their policies have made it harder for producers/suppliers to bring down costs and wages have no way kept pace.

If we learned nothing from history, we should have learned that Nixon's price controls that that Democrats kept in place far longer than Nixon intended were a large part of a terrible economy that cost Jimmy Carter his re-election. And it was bad policy/bad government during the Carter years that made any recovery impossible. That situation extended into the Reagan administration.

Reagan's policies did help and at least didn't make anything worse leading to his overwhelming landslide re-election in 1984. That convinced the Democrats in strong majorities in both the House and Senate to go along with his Tax Reform act of 1985 that seriously began turning things around. Incomes rose, prices and interest rates came down and the economy was so improved that Bush 41 also won the 1988 election by a large margin. (GHWB would blow it though when he went with Democrat deficit reduction plans that so angered the voters they, aided and abetted by Perot's candidacy, voted him out in 1992.)

But re the OP, remember it's "GAUGING" not gouging.

 

[struth]

I'm still waiting for your dumbass to post the Biden policies you claimed caused high inflation.

I am waiting on you to show us when harris and xiden went after grocery stores for price gauging, as she claims is happening…

 

[buckeye]

Considering they have been doing it for the past fifteen years and you try to blame one guy, biased much?

I'll ask you the same question. What were the total of Biden's deficits for the first 2 years in office?

Where does that money come from that Biden spent but didn't have?

 

[Superbadbrutha]

I am waiting on you to show us when harris and xiden went after grocery stores for price gauging, as she claims is happening…

Talk to Harris, I never said that. Now you said Biden's policies was causing all this high inflation, but like most dumbass Trump Humpers you can't tell us which policies it was.

 

[kyzr]

And they are driving up the cost of groceries by increasing prices and expanding their profit margins.

As I said and contrary to your denials.

Even democrat economists oppose price controls.

If you are right, then why hasn't Biden fined those greedy food processors to lower prices?

 

[Foxfyre]

I'll ask you the same question. What were the total of Biden's deficits for the first 2 years in office?

Where does that money come from that Biden spent but didn't have?

And more importantly, where is the evidence that any of it went for something that did or will improve the lives, liberty, pursuit of happiness of the American people? Where are all those 500,000 EV chargers that were in the Inflation Reduction Act that blew the deficit out of the park and was a huge reason for exacerbated inflation and other negatives in the economy? Last I heard the administration had built what. . .seven in three years? As I watched the price of lettuce climb from around 70 cents a head to $1.99 a head this week and the price of a loaf of bread to climb from 85 cents a loaf to $1.89 for a much smaller loaf, I don't see a hell of a lot of inflation reduction either.

 

[Marener]

Even democrat economists oppose price controls.

If you are right, then why hasn't Biden fined those greedy food processors to lower prices?

First step is people like you admitting profit seeking has caused inflation.

Can’t talk solutions until you acknowledge this is a major part of the problem.

 

[DBA]

Trump’s policies had a part so he was dealt a bad hand. COVID had a part and so he was dealt a bad hand there too.

Biden’s policies undoubtedly had some effect, but Trump was supporting a lot of the same things like the third round of stimulus checks.

Ok, so let's look to the future. How are Harris' policies going to help the economy? Is raising corporate and capital gains taxes going to help? What about increasing the child tax credit, which is fully refundable, meaning it is free money to those that don't pay federal income taxes. Is that going to help? What about replacing private health insurance in lieu of a single payer system She said she was in favor of that in the Democratic primary debate just 4-5 years ago. There are a plethora of other far-left ideas that I am sure she is going to end up supporting, but has to be quiet about them for now as not to upset the apple cart. How about removing the stepped up basis for property received via probate? Biden supported that idea. Would that be helpful?

The reality is that most who vote for Harris couldn't care less about her policies, which is exactly why she is in no hurry to publish them. If/when she does, there is little doubt that she will make an attempt not to appear so left-wing crazy. Harris voters won't bother to look at her voting record nor even listen to her from just a few short years ago. The fact that she isn't meany Trump is good enough. It's sad.