livingston
20×102mm Vulcan
The Biden administration complains that producers are taking advantage of product shortages and supply-chain constraints by jacking up their prices. He wants to penalize the meat packers for the high beef prices, the poultry industry for the rising expense of a chicken dinner, the drug companies for the high cost of pharmaceuticals and the oil and gas industry for recording record profits while gas prices soar.
He wants the Federal Trade Commission and other regulatory agencies to impose price ceilings to be monitored by an army of federal price-control police.
Just this week, Bernie Sanders called for a backdoor form of price controls with his proposal of a 95% windfall-profits tax on such firms as oil companies, pharmaceuticals and meat producers. No one told the senator that when you tax something, you get less of it. This will only make supply-chain problems worse and fuel even higher prices.
He wants the Federal Trade Commission and other regulatory agencies to impose price ceilings to be monitored by an army of federal price-control police.
Just this week, Bernie Sanders called for a backdoor form of price controls with his proposal of a 95% windfall-profits tax on such firms as oil companies, pharmaceuticals and meat producers. No one told the senator that when you tax something, you get less of it. This will only make supply-chain problems worse and fuel even higher prices.
Another Dem mistake! Threatened price controls won’t curb Biden-flation
What Biden is best at when things go wrong is pointing his finger at someone else. He passes the buck.
nypost.com