Rep Chocola (R-Himself) has introduced a bill making it "easier" for farmers to buy new farm equipment by changing the tax code. Now this is interesting for two reasons.
1. Chris Chocola was the CEO of (wait for it) a company that makes agricultural equipment! I'm sure that there is no way possible that he might benefit from this, right?
2. He really doesn't seem to understand the economics of farming very well for a guy who was the CEO of a company that made agricultural equipment. Farmers don't hold onto old equipment because of the tax codes, they hold onto them because A.) they're meant to be used for years, and B.)given the pressure on prices caused by corporate farms and imports, farmers can't afford to buy new equipment, tax breaks or not. When combines can cost a quarter of a million dollars or more, you're gonna use that piece of equipment for a long, long time, not get rid of it the first time it breaks.
Thursday, November 24, 2005
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