Description
FARM WELFARE MONEY ON THE BACKS OF TAXPAYERS
Since the Great Depression, the federal government has played a role in aiding the nation’s farms through subsidies, including direct payments, crop insurance, and loans.
Government payments (excluding crop insurance payments) to farms have fluctuated since 1933, from a low of $1.5 billion in 1949 to $32.1 billion in 2000. In 1949, government payments made up 1.4% of total net farm income — a measure of profit — while in 2000 government payments made up 45.8% of such profits.
In 2019, farms received $22.6 billion in government payments, representing 20.4% of $111.1 billion in profits.
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