My husband proposes asking politicians who support a windfall tax on oil companies if they also support one on farmers.
In the last two years (as of 5/15), crude oil on the Nymex has increased just about 75%, while corn and soybeans have each almost doubled. (Corn, which for many years sold for approximately $2/bushel, has recent been as high as $6/bushel.)Ask those politicians who like to pontificate about the rich paying their fair share why they would support giving government subsidies to farmers who earn three-quarters of a million to a million and a half dollars.
Conceptually, what's the difference between the oil companies' "windfall" and those of the corn and soybean farmers?
When the current farm bill was proposed in February 2007, Bush wanted to provide subsidies only for farmers with incomes under $200,000 per year. The bill that just passed the House would provide subsidies for farmers who make up to $750,000 annually, $1.5 million for couples.