This election features Democrats calling for tax hikes and Republicans calling for spending cuts. Neither side has been specific about how bad the tax hike might be, or what might be cut. Both sides fear that specific proposals will just mobilize opposition, so they stick to vague generalities that mean nothing. So lets take a look at what we could cut.
Easy target Number 1 is farm subsidies. There is a $1 trillion over 10 years farm bill wandering around capitol hill right now. It hasn't passed yet but they are trying hard. Only farmers (less than 5% of the population) benefit. Most of us get taxed just to pass money to farmers. Most of whom are corporations like Archer Daniels Midland, not family farmers. Farming is just another business, like manufacturing or mining or trucking, or fast food. Why should farmers get a $100 billion a year government subsidy that no other industry gets?
We are talking about a lot of money here. The yearly US deficit is $1 trillion, so the farm bill is 10% of the entire deficit. Kill the farm bill and we have made a serious step toward balancing the US budget. While we are at it, we could close down the Agriculture Department and save even more.
2 comments:
The time is long overdue to end them. Every country that has done so has seen the agricultural portion of their economy survive and grow without them. All subsidies do is distort market feedback by providing corporate welfare. If the agricultural product can't survive on its own, then it shouldn't It isn't economically viable.
Amen.
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