He additionally dismissed her housing initiatives, geared toward rising reasonably priced housing and aiding first-time homebuyers, as inflationary and impractical.
‘Kamalanomics’ underneath scrutiny
Throughout a rally in North Carolina, Vice President and presidential candidate Kamala Harris introduced her financial platform, which incorporates increasing baby tax credit and rising funding for reasonably priced housing. She additionally proposed penalising massive companies for worth spikes on important items.
“They tried that in Venezuela, Cuba, North Korea, the USSR,” O’Leary remarked relating to Harris’s worth gouging proposal. “No, that’s not going to work.”
The Wall Road Journal editorial board shared related views, describing Harris’s plan as “Venezuelan-style left-wing populism,” arguing that worth controls have traditionally failed globally.
Criticism of Harris’s housing initiatives
Along with grocery worth controls, O’Leary criticised Harris’s housing platform, which goals to construct 3 million new properties and supply £20,000 grants for first-time homebuyers.
“Once you give £20,000 to anybody in a constrained market, you trigger inflation,” O’Leary commented. “If there are three homes on the market and everybody will get an additional £20,000, the costs will rise as a result of there’s no provide.”
Harris’s plan additionally consists of laws to restrict traders from shopping for properties in bulk to flip at increased costs.
