Indiana Attorney General Curtis Hill Jr. is encouraging victims of so-called “price gouging” in the state of Indiana to visit the website indianaconsumer.com and click the “file a complaint” button in the middle of the page to get even with the greedy bastards.
Strike that! Don’t file a complaint and don’t get your overpriced, skidmark stained Mack Weldon briefs in a twisty. Why? Because there’s no such thing as ‘price gouging’ in a free market economy.
WIBC host Tony Katz explained this incredibly easy to understand fact to Attorney General Hill in a commentary Thursday morning:
“Are you out of your mind, sir? If I have a product, I can sell it for any damn price that I want. Are you nuts? Do me a favor, sir, just hand in your law degree right now. What are you thinking?
“I have a product. The market says there is a price for that product. If someone is willing to pay me that price, I can sell them the product – period!”
Fun Fact: Indiana’s anti-price gouging law is limited to fuel costs, which have been dropping steadily during the COVID-19 outbreak. Attorney General Hill, however, believes his authority under the state’s Deceptive Consumer Sales Act allows him to investigate retailers charging excessive prices for all products.
Point to Ponder: Isn’t it amazing how many helpful and completely unconstitutional powers our elected officials “discover” in times of economic crisis? Apparently freedom only applies in an environment of low unemployment and 2%+ annual economic expansion.
Enjoy more from WIBC host Tony Katz in the clip below.