12/04/2005: Dumbest justification for farm subsidies ever
U.S. cotton producers say they are being penalized for being among the most sophisticated, efficient producers in the world, and they chafe at the notion that their prowess should be impeded because people on hand-worked plots in Africa can't compete.
Hmm... American cotton farmers received $4.2 billion subsidies in this year, because foreign farmers are the ones who can't compete. Yeah, right.
Oh, and that $4.2 billion goes to 22,000 cotton farmers. That's $191,000 per farmer.
Another "missing the point" moment in the article:
"It costs less to raise soybeans and corn. When you hear farmers get paid too much down South, it's because of the cost of producing cotton," said Rudi Scheidt, former president and chairman of Hohenberg Bros. here.
If it costs less to raise soybeans and corn, and the market return on them is better, then that's what U.S. farmers ought to be growing instead of cotton!
Brock on 12.04.05 @ 09:44 AM CST