Kathianne
05-15-2008, 08:50 AM
50% income increase over the average in a year. If good for the oil companies, should be good for any other segment of the economy. Not this Congress, instead they are increasing subsidies, actually adding to the inflationary effect hitting us daily.
http://volokh.com/archives/archive_2008_05_11-2008_05_17.shtml#1210810736
[Jim Lindgren, May 14, 2008 at 8:18pm] Trackbacks
A Windfall Profits Tax for Farmers--Heavens, No!--
Given the huge increase in food prices and farm incomes, I wonder why some of our politicians aren’t proposing a windfall profits tax on farmers.
To the contrary, Congress is passing a big farm bill with more pork for farmers:
A Porker Of A Farm Bill
The latest score on farm legislation: Congress 1, President Bush 0. And there's a good chance for a shutout within the next few days.
Wednesday afternoon, the House of Representatives overwhelmingly passed a much-debated Farm Bill, with a veto-proof 318-106 vote. The measure, stuffed with lawmakers' pet projects for local farmers, now moves to the Senate, where it is also likely to pass. Bush, now traveling in the Middle East, has threatened to veto the $290 billion bill because it gives generous subsidies to farmers, many of whom are now reaping the benefits of higher food prices.
"Farm income is expected to exceed the 10-year average by 50% this year, yet Congress' bill asks American taxpayers to subsidize the incomes of married farmers who earn $1.5 million per year," he said in a statement Tuesday.
....
http://volokh.com/archives/archive_2008_05_11-2008_05_17.shtml#1210810736
[Jim Lindgren, May 14, 2008 at 8:18pm] Trackbacks
A Windfall Profits Tax for Farmers--Heavens, No!--
Given the huge increase in food prices and farm incomes, I wonder why some of our politicians aren’t proposing a windfall profits tax on farmers.
To the contrary, Congress is passing a big farm bill with more pork for farmers:
A Porker Of A Farm Bill
The latest score on farm legislation: Congress 1, President Bush 0. And there's a good chance for a shutout within the next few days.
Wednesday afternoon, the House of Representatives overwhelmingly passed a much-debated Farm Bill, with a veto-proof 318-106 vote. The measure, stuffed with lawmakers' pet projects for local farmers, now moves to the Senate, where it is also likely to pass. Bush, now traveling in the Middle East, has threatened to veto the $290 billion bill because it gives generous subsidies to farmers, many of whom are now reaping the benefits of higher food prices.
"Farm income is expected to exceed the 10-year average by 50% this year, yet Congress' bill asks American taxpayers to subsidize the incomes of married farmers who earn $1.5 million per year," he said in a statement Tuesday.
....