- Subsidies' Harvest of Misery
By Jimmy Carter
Washington Post, December 12, 2007
Straight to the Source
Tragically, in its current form this legislation does not fulfill its original purposes but instead encourages excess production while channeling enormous government payments to the biggest producers. This product of powerful lobbyists now punishes small-scale farmers in the United States and is devastating to families in many of the world's least affluent countries.
It is embarrassing to note that, from 1995 to 2005, the richest 10 percent of cotton growers received more than 80 percent of total subsidies. The wealthiest 1 percent of American cotton farmers continues to receive over 25 percent of payouts for cotton, while more than half of America's cotton farmers receive no subsidies at all. American farmers are not dependent on the global market because they are guaranteed a minimum selling price by the federal government. American producers of cotton received more than $18 billion in subsidies between 1999 and 2005, while market value of the cotton was $23 billion. That's a subsidy of 86 percent!
Full Article: http://www.washingtonpost.com/wp-dyn/content/article/2007...