Posted by JD Seller on January 15, 2014 at 05:29:04 from (208.126.196.144):
In Reply to: Can't we get along? posted by IaGary on January 15, 2014 at 04:55:23:
Well I really do not care who or what guys farm or get for their crop. Each of us has to run our own business.
I do care when the BTO are getting MILLIONS in government farm payments. One local fellow here 10 years ago would buy a farm each year with the government payment as his down payment.
The middle class has gotten beat up in the last 10-15 years. So they are not real happy to see tax dollars they have to pay going to some "poor" farmer driving a $50,000 pickup to town.
I disagree with the government payments AND the bankruptcy laws. Many of the BTOs around me have all filed some form of bankruptcy in the last 20 years. I think they will again with grain prices falling and inputs/rents still being high. So am I supposed to be happy that they can write off MILLION while I have PAID my bills with MONEY that I made without ANY government hand outs????
Another example of the way people are: There is a very large farm operation here close. In the last 5 years they have boughten $23 million dollars of land. They have a farm corporation that they where in with their father and now their sons. Some how they structured it so that now the Father is in the local nursing home on the government's dime. HE is on title 19 as he does not have any assets according to how they setup their corporation. It is funny when they started that farm corporation he had three farms that they started with. I do mean three farms that where paid for.
So they are messing the rest of us over BAD in several ways:
1) Their father is costing the rest of us tax payers $50K plus each year.
2) They mess around with with who the names of their crops are sold in so they can all draw the maximum government payments. It is ONE farming operation. It needs to be treated as ONE farming operation for payments.
3) If they go bankrupt AGAIN they should have to lose the ground they bought not be able to write it down to the value it will fall to in a few years. They gave $15k and acre so why should they get to write it down to $5-7K per acre in bankruptcy???? The last time they bid $2500 in 1980 and then got it wrote down to $750 in 1985 with Farm Credit having to take the loss. They did not lose ONE single farm they bought.
So to sum it up. IF you have honestly EARNED what you have and are doing then I have ZERO problem with it but if you have lied and swindled to get there then I DO have a problem with it.
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