For the corn and soybean producer, times could not be better. Now is the time to dramatically cut back on both the crop insurance, direct subsidies and the "counter-cyclical" subsidies. They are just not needed. Farmers in the corn belt are so well off now, that the banks in their small towns are unable to make capital acquisition and crop loans. They are all paying cash and having to buy new equipment, just to avoid taxes. The big winners in this time are Monsanto and the other GMO seed producers. They have no shortage of money, as the producers will pay whatever they ask. The second tier getting wealthy are the fertilizer, chemical and service firms. Farmers have so much extra cash, that they can pay others to do their work. They do not quibble with the nitrogen and urea fertilizer prices, which should be dropping, but are not. These are all made from cheap and abundant natural gas, but the willingness to pay whatever is asked is holding the firm's profits high. The last impact of the subsidies is on the family farmer, who finds his neighbors selling at record per acre prices and sees his property tax burden rising sharply. All are the direct result of these subsidies. Grassley's bill WILL NOT change this scenario. No income cap will work, unless it is on gross income and the dodge will be to set up multiple holding companies or corporations for each farm owned or leased by the mega farming entities. You only control the money going to the mega farmer by cutting out the entire subsidy scenario for all farmers, until price competition and markets are allowed to normalize AND a rapid and uncontrolled price drop for corn and soy follows.

I found most of the earlier comments laughable. It seemed almost complaining that farmers & livestock producers are experiencing good times. It is fairly obvious that the comments come from somebody who does not make a living in production agriculture. Producers are not needing banks as much? Really? Most inputs have inflated upwards of 30% in the last year. This inflation has eaten up a significant part of those record prices that you assume have gone into the pockets of those of us in production agriculture. Granted if you are sharp, you have still put some of that back in your pockets, but record commodity prices basically mean that you are now laying out record capital for nearly the same margin. In short it costs more to play the game than ever before and banks are still very much a part of this scenario. The banks margins are obviously lower as the interest rates are low. Cash is a commodity as well. To go under the assumption that producers are just paying whatever seed and chemical companies ask for on inputs is the most absurd thing I have ever heard! We have competition in those agri-support businesses and I do not know of a single producer that doesn't say "Is this the best price you can give me?" and most check with the competition. Those corporations have input prices too, that are going up in the face of inflation as well. Most of those corporations are publicly traded. If you think they are cutting such a fat hog, go ahead and invest your own money in them. I doubt you will be retiring to Maui anytime soon. The term "Mega Producer" keeps getting thrown around in propaganda from the CFRA. I have asked for a definition of Mega Producer several times and have never gotten a response. I have come to the understanding, that in today's entitlement society, that "Mega Producer", "Wealthy" or "Big Corporate" is anyone who you perceive as having more than you! How sad, Envy is one of the 7 deadly sins, and in this case, it is becoming deadly to our nation. Now onto farm subsidies, I agree with the earlier comment that we should wean ourselves of these programs. These were mostly put in place to leave a floor under commodity prices to ensure we have an ample and safe food supply, the greatest part of national security. However, subsidies have become a major part of figuring the value of land and have thus helped raise property taxes. In a free capitalistic society, you cannot simply penalize the successful! If you are going to take away subsidies, they need to be taken away from everyone, not just the "Mega Producers". If you trace the roots of a "Mega Producer", odds are they started as a small family operation that went through a lot of hard work to become larger and just being larger does not inherently insure success either!

I believe there is a legitimate purpose for farm programs - to protect opportunity for small and mid size farms and keep agriculture in more hands. America and its communities are stronger when farms and businesses are in many hands, rather than the hands of a small elite. Eliminating farm programs will not achieve that objective. Wealth concentrates in the "free market" too. Nor will that objective be achieved by the farm program we have today, where the bigger the farm grows, the more money it gets from the government. However, a program with a hard cap on payments will strengthen the competitive position of small and mid size farms. The Grassley Johnson bill would change the dynamic in agriculture, because it closes the loopholes in farm payment limitations, as well lowering the limits.

I agree with the earlier comment that we should wean ourselves of these programs. These were mostly put in place to leave a floor under commodity prices to ensure we have an ample and safe food supply, the greatest part of national security. However, subsidies have become a major part of figuring the value of land and have thus helped raise property taxes. ponturi . Wish all the best.

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While I agree with that, those corporations have input prices too, that are going up in the face of inflation as well. Most of those corporations are publicly traded. If you think they are cutting such a fat hog, go ahead and invest your own money in them. I doubt you will be retiring to Maui anytime soon. The term "Mega Producer" keeps getting thrown around in propaganda from the CFRA. I have asked for a definition of Mega Producer several times and have never gotten 4G LTE Phones response. I have come to the understanding, that in today's entitlement society, that "Mega Producer", "Wealthy" or "Big Corporate" is anyone who you perceive as having more than you!

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