Saturday, February 1, 2014

Nauseating Farm Bill

The House has passed a $1 trillion Farm Bill. It is expected to easily move through the Senate and then be signed into law by the President. House Appropriations will then fund it.
What does this mean to you?
The US population is 317 million. Since you are one of them, the total $1 trillion will cost you personally $3,155.
How will you pay?
You will pay the $3,155 by paying taxes to the federal government. Any amount of taxes short of $3,155 will be covered by federal government bond borrowing, for which you will be responsible. The people are always responsible for federal government debt, since it is their government that has assumed the debt.
What do you get for your $3,155? Essentially nothing.
The money will go to farmers and related special interest groups. If you are not a farmer or a "special interest", you will receive no benefit for your expense of $3,155.
How did we get into this situation?
For those who live in the Lubbock area, it should be noted that Representative Neugebauer has been a prime motivator for this Farm Bill. His incentive is to be reelected to his office. The strategy is that farmers and other special interest groups will give him money to promote his reelection through advertisement, while non-farmers or non-special interest group voters will pay no attention. Voila! Randy Neugebauer is automatically reelected.
Some persons have said that a generous Farm Bill is good for the Lubbock economy through a trickle-down effect. That is, when farmers and special-interest groups have more public money in that control, they will spend more in the local economy for housing, general purchase of hard and soft goods, and entertainment, such as restaurants. While this is true, trickle-down money is always much smaller than the original bundle. Lubbock people must ask themselves whether they obtain enough benefits to cover the $3,155 individual expense. A Lubbockite might also ask himself whether it is justifiable to sock the cost to other US non-farmers.
Can we do anything to stop this Farm Bill from becoming effective? Probably not.
How did we get into this situation?
Basically, by a continuous alteration of our legislative body, such that members of both the House and Senate are professional politicians. That is, they owe their power and monetary benefits from continuous reelection to office. The mechanism for continuous reelection is always pork spending for local constituents and special interest groups.
The only way this can be changed is to establish term limits for Congress. Without the possibility for reelection, there is much less incentive to engage in pork and special-interest spending while in office.
I have previously considered and written on how term limits might be established. Congress will not automatically vote for term limits on itself. It has no incentive. Another possibility of Constitutional Amendment is possible, but unlikely to be successful, because of its complexity.
The only workable method that I can think of is to pay them off. That is, pay them to leave, in order to reduce the damage that they would be doing by not leaving. This can be accomplished by extremely generous pension benefits. If the individual pension benefits are better than the benefits of remaining in office, and we get 90 to 95% of Representatives and Senators to retire after a single term in office, we have made great progress.
Some persons have said these payments would be unconscionably excessive. I say, one must look at it on a cost/benefit basis. The present system is doing tremendous damage to our economy and national debt. Almost any Congressional pension benefit would be advantageous by comparison.
Others have said such benefits would be costly to the taxpayers. Again, look at it on a cost/benefit basis.

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