Thursday, September 12, 2024

Why would farmers still vote for Trump?

Another case of Republicans voting against their own interests.
[Small farmers] were already doing badly, and then came the tariff wars with China and the loss of a major market. There has been Trump's Market Facilitation Program (MFP), which is a bailout for farmers, but according to an analysis, the biggest operators sucked up the bulk of the money, putting small ones ever further behind.

[...]

[T]he top 10% of recipients—"the largest, most profitable industrial-scale farms in the country," according to the EWG—received half of all the dollars spent, in the form of multi-million dollar payments. The top 1% of recipients received 13% of payments. The bottom 80% received an average of $5,136.

[...]

When the owners don't have outside income that helps underwrite the costs, then 76.2% of low-sales farms (less than $150,000 a year) have below critical operating profit margin, according to the USDA ERS. From $150,000 to $349,999 gross income, 55.8% are below critical margins. And so it goes until you reach very large farms ($5 million or more) where only 24.6% are below critical.

In other words, small family farms (90% of all family farms) are in deep trouble normally. These latest shocks are helping to drive up farm bankruptcies and farmer suicides, as Chuck Jones wrote earlier this year at Forbes.com. These are people who badly need help.

[...]

[T]he farming industry is in dire straits and, you could easily argue, is a national security consideration. Having no food or other vital farm-based products is a disaster waiting to happen.

  Forbes
That was under Trump.
Donald Trump often espoused his love for America's farmers during his presidency.

But after a year under President Joe Biden, farmers say they're actually feeling the love.

[...]

While the focus of the Biden administration has been on its handling of the Covid-19 pandemic, and more recently the global standoff with Russian President Vladimir Putin over Ukraine, the farm sector has fared quite well under the new administration, as farmers ease off of government bailouts and see a boost in commodity prices.

[...]

[I]n 2021, the majority of net farm income came from commodity sales and actual production "off the farm." Whereas in 2019, a "big chunk" of the income was coming from Market Facilitation Program payments, which were at the core of the Trump administration's effort to mitigate losses from its disputes with China and other trading partners.

[...]

Net farm income, a broad measure of profits, is estimated to have increased by $15.7 billion in 2020 relative to 2019, according to the U.S. Department of Agriculture's Economic Research Service. The agency also forecast net farm income at $116.8 billion in 2021, the highest level since 2013.

[...]

Vincent Smith, a visiting fellow at the right-leaning American Enterprise Institute, said the Trump administration "severely disadvantaged" farmers with an ill-advised trade policy.

[...]

In 2020, Trump won a number of traditionally Republican farm states including Iowa, Texas, North Carolina and Nebraska.

  NBC
Why?

...but hey, do what you want...you will anyway.

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