Tuesday, July 10, 2007

Subsidies

The next time you look at your tax return think of farm subsidies. Farmers have been pocketing $20 billion a year in tax payer handouts for such things as corn which brings $4 per bushel which is double that of 2005. These farmers get 1/2 of all farm subsidies. Another travesty is the sugar program. This program keeps the price of sugar artificially high and costs us $1.9 billion per year. More than 1/2 of it goes to the wealthiest 1% of our plantation owners.
All of the recipients of farm subsidies are not farmers, per se. Among corporations which receive them are ExxonMobile, Chevron, International Paper, and Caterpillar. The farm lobby in Washington is pretty effective.

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