Wednesday, May 14, 2008

Life is good down on the farm

The farm bill going through Congress is such a boondoggle, it would take much of the day to document all of the obscenities included therein. Let's start with this. The bill continues the practice instituted after Katrina whereby farmers are allowed to lock in price support payments at the lowest possible price, sell at the highest possible price and then pocket the difference. This means you and I are paying twice for the same bushel of wheat.
Bush wanted to cap these benefits at an annual income of $200,000, but Congress will have none of that and went instead for $750,000. This in itself is a mirage since it doesn't include loan programs or disaster payments and it allows spouses to qualify for payments too. With clever accountants, it has been calculated that a farmer can have an income of up to $2.5 million and still get a handout.
BestView can't go on. It is too depressing.

Personal Unsecured Loan