Thursday, July 26, 2007

US should end agricultural payments

US- the great messiah of free trade should stop subsidizing its agriculture, handing out farm payment to its odd 25,000 cotton farmers and let real world cotton price surface
In last 5 years, US govt has handed out $70 billion in payments to its farmers.
Don't believe me? Check out these databases
US Farm Subsidy database link
The bill would perpetuate an outdated and hugely expensive — $70 billion over the last five years — system of price supports and direct payments that disproportionately rewards big growers of row crops like corn, wheat and soybeans. More than half of this spending is concentrated in about 20 Congressional districts.

Incredibly, the House speaker, Nancy Pelosi, touts the bill as a big step toward reform. Ms. Pelosi seems especially proud of a new means test under which farmers with adjusted gross incomes of $1 million or more would no longer receive subsidies, down from the present cap of $2.5 million.

What is your favourite grain

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