(UnitedVoice.com) – Price gouging is considered to be one of the most heinous acts anyone can commit during a time of crisis. Even so, hundreds of incidents of goods and services being hoarded then sold at unreasonable prices, taking advantage of those in need, have been and continue to be reported.
Price gouging normally occurs during a time of crisis, natural disasters, or emergencies, and it’s not just individuals who do it. While there are no federal price-gouging laws in place, every state has laws against it. The act and practice of price gouging is defined by these three criteria:
- Emergency or Crisis Situation – raising prices of goods and services during a disaster or emergency.
- Essential Items or Services – raising prices on essential or specific items needed in a time of crisis or emergency (food, water, medicine, equipment).
- Price Limit – setting an unreasonable price increase for goods and services during a time of crisis or emergency.
In one despicable case a few weeks ago, two brothers in Tennessee purchased over 17,000 bottles of hand sanitizer, masks, and disinfectant wipes. They were hoping to sell these on Amazon and price gouge Americans in need.
In a just move, Amazon quickly shut their account down leaving the brothers stuck with items, unable to sell them. The pair decided to “donate” the hoarded items to save face, but by then it was too late. They’re currently under investigation.
White House Trade Advisor, Peter Navarro, sent a clear message during a press conference this past Sunday. He warned those buying up essential items like masks, gloves, and sanitizers, their time for justice will come.
During the press conference, Navarro said there have been an overwhelming amount of price-gouging complaints in the past few weeks. He provided a fair opportunity to anyone holding on to large quantities of necessary items — do the right thing and sell them at a fair price.
He said they would even be willing to buy them while also warning that if they hoarded the items or raised prices unfairly, law enforcement would soon pay them a visit.
It’s about time someone stood up for the American citizens, who in times of crisis, sometimes have no choice but to pay those elevated prices.
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