TriggerFinger


Democrats introduce absurd price-gouging legislation


City JournalSenate Democrats, led by Elizabeth Warren, just released a bill that would make price-gouging unlawful. The proposal gives further life to price controls, one of the worst policy failures from the last period of high inflation, decades ago.

According to the bill, “It shall be unlawful for a person to sell or offer for sale a good or service at an unconscionably excessive price during an exceptional market shock, regardless of the person’s position in a supply chain or distribution network.” What is an “unconscionably excessive” price? Presumably Warren knows it when she sees it. The punishment would be the lesser of a $25,000 fine or 5 percent of revenues.

With a definition like that the law would be struck for being unconstitutionally vague, I would think.

This entry was published Wed Jun 01 23:07:07 CDT 2022 by TriggerFinger and last updated 2022-06-01 23:07:07.0. [Tweet]

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