American Boondoggle: Fixing the 2012 Farm Bill

American farmers are supposed to make a living raising and marketing crops and livestock, and many full-time farmers are very good at doing just that. They are also effective at obtaining income through the generosity of their elected representatives at the expense of taxpayers. The main farm subsidy programs were introduced in the 1930s when many dirt-poor Dust Bowl farmers were in dire straits, as, of course, were many Depression-decimated families in the cities. Since the end of World War II, however, farmers and their families have substantially improved their absolute and relative economic stations. The average farm family currently earns substantially more income than the average nonfarm family and is much wealthier. Moreover, debt-to-asset ratios are far lower among family farm businesses than family-owned mainstreet businesses-or, for that matter, most large corporations-and have been much lower for most of the last thirty years.

americanboondoggle

Download PDF

Also Visit
AEIdeas Blog The American Magazine
About the Author

 

Vincent H.
Smith

What's new on AEI

Poverty in America—and What to Do About It
image GDP for second quarter: Strong headline, weak innards
image Paul Ryan and the emerging conservative reform agenda in higher education
image Democrats' impeachment fixation
AEI on Facebook
Events Calendar
  • 28
    MON
  • 29
    TUE
  • 30
    WED
  • 31
    THU
  • 01
    FRI
Tuesday, July 29, 2014 | 10:00 a.m. – 12:00 p.m.
Is Medicare's future secure? The 2014 Trustees Report

Please join AEI as the chief actuary for Medicare summarizes the report’s results, followed by a panel discussion of what those spending trends are likely to mean for seniors, taxpayers, the health industry, and federal policy.

Friday, August 01, 2014 | 10:30 a.m. – 12:00 p.m.
Watergate revisited: The reforms and the reality, 40 years later

Please join us as four of Washington’s most distinguished political observers will revisit the Watergate hearings and discuss reforms that followed.

No events scheduled this day.
No events scheduled this day.
No events scheduled this day.
No events scheduled today.
No events scheduled this day.
No events scheduled this day.