John Stossel is ABC News' Co-Anchor of "20/20" and New York Times best-selling author of Give Me A Break & Myths, Lies and Downright Stupidity. His "Give Me a Break" commentaries take a skeptical look at a wide array of issues, such as education, the economy, parenting, and more.
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Your Handout to Agri-Business
07/09/2009 10:31 AM
I’ve reported on the government’s boneheaded farm subsidy programs that cost taxpayers $25 billion per year, and import taxes that cost consumers another $12 billion in higher supermarket costs. The average American household pays $320 per year for these policies, but voters rarely complain, because the costs are well hidden. Also, it’s another case of concentrated benefits winning in politics over diffuse costs. Even if you do know that you will be unfairly penalized $320/year, you are less likely to go to your Congressman about that than the business that will win millions.
The Atlantic’s James Gibney has this suggestion:
Every product whose ingredients benefit from a subsidy should include the following language on the label:
"This product has been subsidized by the U.S. government at taxpayer expense. For more information, please visit usda.gov."
And every product that benefits from tariff protection should have the following language on the label:
"This product is protected from foreign competition by U.S. import tariffs. Its price is higher as a result. For more information, please visit usitc.gov."
July 9, 2009 in Economics | Permalink | Share | User Comments (6)
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Yay, green jobs!
Posted by: JohnJ | Jul 9, 2009 12:54:08 PM
Two words: Sugar Tariffs! Also, Corn Subsidies! The main reason you see more sodas made in the USA with High Fructose Corn Syrup as the main sweetener than you see ones still sweetened with sugar like they originally were.
Posted by: Christopher Wilson | Jul 9, 2009 5:06:53 PM
Which group is going to get the government to mandate those labels?
If people knew of and cared about the subsidies, they would't vote a label, they would end the subsidies.
Posted by: Andrew Garland | Jul 9, 2009 9:12:35 PM
I'm very interested in any posts with you, I respect and often try to visit you. Thank you.
Posted by: business | Jul 10, 2009 7:47:37 AM
I'm very interested in any posts with you, I respect and often try to visit you. Thank you.
Posted by: business | Jul 10, 2009 7:47:45 AM
You cover Ag better than anyone. You should cover the aspect that no one understands - that about 10,000 employees in the FSA county offices are not really government employees - they're "county" employees and report directly to the farmer in charge of them. They are outside the civil service system and do what the farmer wants. Other businesses should be so lucky!
Posted by: Taylor | Jul 11, 2009 3:00:56 PM
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