Summary
Vice President JD Vance claimed that Donald Trump’s policies will lower grocery prices, but he failed to provide details.
Instead, Vance emphasized vague goals like increasing capital investment and job creation.
Meanwhile, Trump’s recent tariff threats, including a 25% increase on Colombian coffee imports, have driven coffee prices higher, exacerbating grocery costs.
Critics note Trump’s shifting narrative, as he now admits it is “hard to bring things down once they’re up.”
Supporters, however, downplayed price hikes, suggesting cheaper alternatives like instant coffee.
There’s only one way to lower prices. Extremely aggressive government action that will never happen, especially under a Trump adminstration.
First, they would have to hold Congressional hearings and drag the CEOs of these large corporations in front of the House to explain why their profit margins are going up far faster than normal inflation pressures should dictate, and why this trend started during the COVID pandemic. Let these CEOs try to explain away the price gouging and the profiteering. Hold CEOs in contempt if they refuse to answer or give one of those meaningless word salads of buzzwords meant to say a whole lot of nothing, and actually start jailing these bastards for 30 days for trying to tiptoe around it.
Tax profit margins that are above 2019 levels for the industry at 100%. If the average profit margin for the industry in 2019 was 5% and your company suddenly has a 10% margin in 2024, then tax that additional 5% at a 100% tax rate. Make price gouging both illegal and pointless since the government would just take it all anyway.
When CEOs start having to make regular trips to Washington to explain why their profits keep skyrocketing and the government comes in to take all that excess profit anyway, and watch prices come back down.
This, but retroactively as well.