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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMost American Farmers Will Be Hurt by the GOP Tax Bill
Most American Farmers Will Be Hurt by the GOP Tax BillBut the top 4 percent highest-grossing farms will do fine.
TOM PHILPOTT DEC. 15, 2017 4:02 PM
As a candidate, Donald Trump dominated the rural vote and polled very well among farmers. Will the tax overhaul hes pushing hard in Congress finally reward farm country for its support?
Since taking office, Trump hasnt exactly been a champion of farmers. He has imperiled their increasingly crucial export markets by rejecting trade deals and cracked down on the immigrants who supply the great bulk of farm labor. He even sided with massive poultry-processing companies over farmers by nixing US Department of Agriculture rules that gave farmers more legal recourse to defend themselves from unfair production contracts.
Trumps Secretary of the US Department of Agriculture, former Georgia Gov. Sonny Perdue, insists the tax bill that recently emerged from House and Senate negotiations will deliver for the administrations supporters down on the farm.
But only the largest operations.
Ferd Hoefner, senior strategic advisor for the National Sustainable Agriculture Coalition, says only farms with around $1 million in annual sales are in a high enough tax bracket to benefit from the lower rate. That amounts to about 4 percent of US farms. Hoefner adds that the tax break for the largest farms provides yet more incentives for farmers to scale up.
http://www.motherjones.com/politics/2017/12/most-american-farmers-will-be-hurt-by-the-gop-tax-bill/
Iliyah
(25,111 posts)bearsfootball516
(6,377 posts)Wellstone ruled
(34,661 posts)Several Large Banks as well as a couple of Churches run Mega Farms. Or own out right Thousands of Acres of Crop Land which is under Leases to Farm Corporations.
With in a few years,we will have a Farm Credit Crunch because of Trump's Bull Crap lack of Trade agreements. First to feel the brunt,Corn and Bean Farmers. China and Mexico have not bought any forward Grain Orders.
And China is ramping up their Grain needs in Africa,watch them become self sufficient in a couple of years. We are not the Grain supplier to the World any more .
liberalhistorian
(20,818 posts)and normally I'd care and have a lot of sympathy. But you know what? I'm DONE with that where rural America and farmers are concerned, because the vast majority of them have continually voted AGAINST their interests despite being shown over and over and over again that republicans are NOT their friends and the GOP policies are NOT in their favor. Then they suck down a ton of farm subsidies that they couldn't do without, then bitch about the evil government and how "self-sufficient" they are in not needing any 'handouts". So, this time, I'm saying the hell with them.
old guy
(3,283 posts)USALiberal
(10,877 posts)Ferrets are Cool
(21,106 posts)ALL but the 1% and large corporations will be hurt by this bill.