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This site is the inspiration of a former reporter/photographer for one of New England's largest daily newspapers and for various magazines. The intent is to direct readers to interesting political articles, and we urge you to visit the source sites. Any comments may be noted on site or directed to KarisChaf at gmail.

Friday, November 8, 2013

Billionaire farmers raking in farm subsidies -- By Timothy Carney, The Washington Examiner

Photo - Farm subsidies often amount to a form of welfare for the rich. (Photo: Thinkstock)Republicans talk about cutting welfare for the poor. Democrats talk about hiking taxes on the rich.
Here's a compromise: cut welfare for the rich. One place to start would be farm subsidies.
The Environmental Working Group reports:
At least 50 billionaires or farm businesses in which they had a financial interest benefited from $11.3 million in traditional farm subsidies between 1995 and 2012, according to a new analysis released today by the Environmental Working Group (EWG).
(Disclosure: One of the billionaires on the list is Philip Anschutz, who owns the Washington Examiner. Two farms owned by Anschutz hauled a combined $600,000 in federal crop subsidies between 1995 and 2003, but none in the past decade.)

Amazingly, Congress is on the verge of exacerbating this problem with a rejiggered subsidy program that could increase costs to taxpayers while increasing the subsidy to banks that lend to farms.

 (Click link below to read more)
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