Brian Cornell, the CEO of retail giant Target, has slammed claims by Kamala Harris and other gaslighting Democrats that retailers have been “price gouging.”
The Democrat presidential nominee and her allies have sought to deflect blame for crushing inflation in the Biden-Harris economy away from the administration’s disastrous economic policies.
Rather than admit to the problem and offer solutions, Harris is trying to gaslight voters into believing that consumers are being hurt by retailers raising their prices to boost profits.
Additionally, the claims seek to quietly advance the anti-capitalist agenda of Harris’s radical campaign.
Last week, Harris announced that her plan to combat inflation was to implement communist-style price controls.
However, most economists vehemently oppose the plan.
During an interview on CNBC, Target’s Cornell was asked:
“Have you boosted any of your profits from gouging on prices?
“And how prevalent and pervasive do you think that was in terms of causing the recent 40-year highs in inflation?”
Cornell responded by noting that the retail giant has attempted to counter soaring inflation by reducing prices on roughly 5,000 items.
“I’ll put my retail hat on for a second,” he said.
“You two talk to industry leaders in every different sector.
“Is there a more competitive space than retail?”
“We’re celebrating this morning, the fact that we delivered a margin rate of over 6%,” he said.
“You talk to other CEOs who are delivering up income of 20%, 30%, 40%, 50%,” he continued.
“So we’re in a penny business.”
“It is a penny business, and it’s a very competitive space, and we provide the value consumers are looking for,” he added.
He also said that raising corporate taxes, which Harris supports, would hurt businesses.
“When the taxes were reduced, we put our capital to work,” he said.
“Since 2017 when the corporate taxes were reduced, we spent close to $50 billion of capital building new stores across the country, remodeling over 1,000 stores.”
“We put the business dollars back into our business,” he continued.
“It’s helped us grow since 2017 our top line almost $40 billion.
“I think it’s the way America should work.”
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