the profseitz blog

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It Pays to be a Farmer (The Government Pays That Is…)

The average income for farm households has been higher than general household incomes every year since 1996. The average household income was $87,780 for all farms in 2010, and $201,465 for families living on large farms.

NY Times

This statistic is surprising to me, how about you? What do you know and think about farm subsidies? Is the notion that these subsidies are in place to support America’s heartland, the farming backbone, the mom and pop farmers really true?

According to the U.S. Census Bureau, the real median income for all households in the United States is $49,445. Note that this a median, so it isn’t inflated by the Warren Buffets out there. So, if my math is correct, farmers have a typical household income that is $38,335 higher than the overall average. That’s a 78% higher income than the typical American family. That figure astounds me, and to know that it is coming from a highly subsidized sector that experienced 24% growth last year because of rising food prices, makes me question this subsidy…what about you?

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This entry was posted on October 18, 2011 by in Uncategorized.
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