Farm Subsidies

Keepin' 'Em Down on The Farm Via Subsidy

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The New York Times reports (reg. may be required) on the new farm bill that just got through the House Agriculture Committee (full House should consider it next week). The bright side, for once: the bill "eliminate subsidies for farmers with more than $1 million in adjusted gross income."

And another shocking idea is apparently getting some traction for future farm bills: actually restricting federal farm aid to people who actually might be suffering some financial harm:

Critics of current programs, however, said the bill did not go far enough, especially given a steep rise in many crop prices in recent years, driven by demand for corn used in ethanol production. Many of these critics, and Democratic leaders, support replacing the subsidies, which are paid even in profitable years, with crop insurance and other safeguards against revenue losses.

Jonathan Rauch from reason in 2002 on farm bills past.