The High Cost of Farm Welfare

Download or read book The High Cost of Farm Welfare written by Clifton B. Luttrell and published by Cato Institute. This book was released on 1989-01-01 with total page 173 pages. Available in PDF, EPUB and Kindle. Book excerpt: Few people have been helped by the massive farm subsidy programs that have developed over the past 5 years, charges agricultural economist Clifton B. Luttrell; the programs have been a colossal waste of money. In this book Luttrell traces the history of government intervention in the agricultural sector from the early price support schemes to the massive expansion of farm programs during the New Deal and the postwar period, then provides a comprehensive analysis of modern programs. He contends that such programs "tax the poor to enrich the wealthy." Luttrell concludes that dismantling the farm programs would provide major savings for American consumers and taxpayers, increase the economic viability of the nation's farming sector, and reduce the federal budget decicit by as much as $25 billion. His provocative arguments are sure to become required reading on U.S. farm policy.