U.S. Farm Policy is Essentially Legalized Plunder (Guest: Michael Farren, Ph.D.)
February 14, 2018
Through a series of studies from the Mercatus Center, Michael Farren and other scholars show farm subsidies are wasteful, unfair and corrupt.
In a recent article, Michael Farren shows how the U.S. farm policy has shifted over time from providing a safety net to help small farmers in times of need to rewarding wealthy, large farms with guaranteed high profits. This shift has come as payments by big agricultural political action committees have gone to legislators each time a new farm bill is discussed. 90% of all farm insurance payouts go to the largest 25% of farms. People pay more for food, crops are left to rot in warehouses, and taxpayers are on the hook for the bill.