>>21449043
Wage and price controls were tried once, back when the price of oil and gasoline were deregulated, and the prices shot up from about 32.9 cents per gallon to approaching $1 per gallon.
In the early 1970s, inflation had been much higher than in previous decades, getting above 6% briefly in 1970 and persisting above 4% in 1971. U.S. President Richard Nixon imposed price controls on August 15, 1971. This was a move widely applauded by the public and a number of Keynesian economists.
It was a nasty time, since wages were frozen and people just had to get along with less.
SCAMala and her ilk want to go back to this flawed practice, as the first step in their power grab over everything in the private sector. Freeze prices, then freeze wages, then when certain businesses go bankrupt, then the feds come a take over manufacturing and the supply sector. It is all so communist, and been proven to be one of the worst ways to run a country and the best way to ruin an economy.
Which is why they want to do it.