Mapping The U.S. Farm Subsidy $1M Club
During the Great Depression, farm subsidies were created to keep the family farm afloat and ensure a stable national food supply. Today, these subsidies have grown so lucrative that wealthy investors, large corporations, and farm-estate heirs use taxpayer money to maximize their personal return on investment.
Since 2008, however, the top 10 farm subsidy recipients each received an average of $18.2 million – that’s $1.8 million annually, $150,000 per month, or $35,000 a week. With the median household income of $60,000 a year, these farmers received more than 30 times the average yearly income of U.S. families.
It was never the intent of Congress to create a new class of millionaires through federal farm subsidies. Yet, the subsidies continue to flow. Last year alone, a very fortunate 400 entities, including farmers, corporations, and agri-businesses, harvested between $1 million and $9.9 million each in federal farm subsidies.
via Forbes Mapping The U.S. Farm Subsidy $1M Club