Sunday, July 02, 2006

More Government Giveaways

Farm Program Pays $1.3 Billion to People Who Don't Farm

The checks to Matthews and other landowners were intended 10 years ago as a first step toward eventually eliminating costly, decades-old farm subsidies. Instead, the payments have grown into an even larger subsidy that benefits millionaire landowners, foreign speculators and absentee landlords, as well as farmers.

Politicians claim to support capitalism and then create these anti-capitalist socialist policies. Then then vote to eliminate tax on the mega rich inheritances... No wonder they spend more than $1,000 more than they collect in taxes for every single person in the United States every year. Capitalism is not against government regulation, there are many cases when regulation is needed (natural monopolies, public safety, anti-trust, taxation, child labor laws, environmental protection [and other negative externality related regulation]...). But farm subsidies to political friends is just about taxing some citizens (and currently taxing those in the future since the politicians don't pay for what they spend with current money) and giving it to others for political gain - not capitalism.

What began in the 1930s as a limited safety net for working farmers has swollen into a far-flung infrastructure of entitlements that has cost $172 billion over the past decade. In 2005 alone, when pretax farm profits were at a near-record $72 billion, the federal government handed out more than $25 billion in aid, almost 50 percent more than the amount it pays to families receiving welfare.

What an idiotic policy.

USA Government Debt Updated Daily:

Federal Debt $8,340,008,565,191 $8,340 Billion or ($8.340 Trillion)

or for every one of the 300 million people in the country $27,800.

For more on the huge debt see the Concord Coalition site.

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