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June 20, 2007

The Wilder side of subsidies

Arise Maurice Wilder, newly crowned  king of the subsidies. He received $2.5 million in farm handouts from 2003 to 2005, according to the Environmental Working Group, making him the single biggest single recipient. Even the Bush administration is becoming embarrassed by the welfare state created for farmers. The president is thinking of limiting handouts to farmers to an adjusted $200,000 per household.
This is a step in he right direction but per household? If this goes through stand by for a rush of downsizing among farmers as they split into smaller units owned by other family members or newly created companies to get round this. There is only one way to avoid abuse - abolish all farm subsidies now releasing  billions of dollars for the exchequer and giving poor countries a level playing field from which to export.

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