Ronald Bailey, of Reason, takes a look at the farm bill:
First, what do the farmers get? Answer: A lot. Last year, net farm income reached a record level of nearly $89 billion due to high crop prices. Farm household income averaged $84,000 in 2007, according to the Environmental Working Group (the 2006 average for all U.S. households was $66,000). Despite such good times, the federal government showered $5 billion in direct payments on 1.4 million farmers.
The farm bill takes money from one group of Americans (consumers) and gives to another group of Americans (farmers). The average farmer has a higher income than the average American. In what bizarro world does this make sense?
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