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Advisor

Re: Half of it back in taxes? Maybe you need....

BA, I don't know what happened to my response post but it disappeared. I just pointed out that your analysis shows that a farmer with 100,000 production would get a max of $16750 unless I am missing something.

67cents divided by two, and then divided by two again.

Hope I am wrong, but that seems to be what it is. And that is if you didn't give any away prior to January 15th.

I am all for total elimination of subsidized agriculture, and targeted tax free treatment of farm income. Pretty sure that the big advertisers of farm inputs don't agree with that, though.

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Re: Half of it back in taxes? Maybe you need....

This has to be the most unamerican socialist program I have ever seen.  Penalize the farmers doing a good job marketing their grain and bail out farmers gambling with grain in the bin. I am sick to my stomach that I am not eligible for this money because I sold last May, June, July.  Natural market action said grains were going to drop. These farmers had 5-6 dollar corn in their head and they lost the gamble.  I sold and should reap the benefits.  Now these less adept farmers are going to get a big check.  Screw them, screw you trump.  I am tired of the rules being changed on the fly and biting me in the butt. At least take percentages off the next mfp to make op for living off the government teat.

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Advisor

Re: Half of it back in taxes? Maybe you need....

you sold for over a buck a bushel over what the market is now and you are grumpy about 16 cents? Maybe you need to chill out a bit, man, and just feel good about your marketing prowess this time. 

Guess you were one of the lucky ones last may and june that was not still trying to plant a crop, and where marketing was the last thing on your mind.

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Re: Half of it back in taxes? Maybe you need....

It isn’t luck it’s skill. When centuryfarm says sell you sell.  If you want socialism start a United States corn board like Canada has for wheat. Or you can sell for profit instead of bitchin about the government pp acres.  No program in the history of the USDA excluded any farmers from any program based on sell date.  This is America, build a better mousetrap profit from the spoils. Rent should go down, used equipment should go down and the financialy savvi should profit from it.


@rsbs wrote:

you sold for over a buck a bushel over what the market is now and you are grumpy about 16 cents? Maybe you need to chill out a bit, man, and just feel good about your marketing prowess this time. 

Guess you were one of the lucky ones last may and june that was not still trying to plant a crop, and where marketing was the last thing on your mind.


 

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Honored Advisor

Re: Half of it back in taxes? Maybe you need....

Hey Red, in the example the farmer produced 100,000 however he is paid only on the 50,000 bushel that was unpriced after January 15th, if all 100,000 bushel was sold or priced prior to January 15th, he`d get bupkis.   Also, if all 100,000 was unpriced at January 15th, the maximum he could get paid on is 50% or 50,000 bushel.   They could`ve put different numbers in to make a better example.   So, he`s getting 33.5¢ on 50,000 bushel and I`m guessing the other 33.5¢ comes later. 

I know some guys that took some feeder cattle to a green tag or gold tag special sale in early January a few days before January 15th, I think they`ll miss the $138/hd payment by just a few days.   That`s the trouble with these arbitrary dates they put in these programs.

I sold hogs in the time frame, but it`s kind of a gray area since mine have a price floor and premium price.  I might just not mess with the $30-some dollar/hd or Politico will do a hit piece Tara Reade story on me calling me a "cro ok"   Smiley Happy

VR, "there ain`t a bull that`s never been rode or a cowboy that`s never been throwed"   I just don`t see a 80s type crash where there`s bargains on machinery and land and a superior marketer has a warchest to swoop in for all the bargains (I could be wrong) .   

There`s so much big, outside money in farming that any time land prices soften there`s buyers.  Whether they plow money from their granite countertop business or launder money for the Cali drug cartel, there`s a hell of a lot of money out there whether corn is $2 or $5. 

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Honored Advisor

Re: Half of it back in taxes? Maybe you need....

V & B

This is not a farm program....... you are misstating--- it has nothing to do with agriculture.....  It is just a targeted economic stimulus program..... only for the economic losses of the virus shut down time frame.  It is nuts.... and the shut down was nuts...... Social distancing and using fresh toilet paper was smart..... but there was no need to "shut down anything...." (maybe education, and state and federal offices --- none of which produce anything, and all have at least short term job security.  And should not be treating folks who are loosing their jobs and businesses quite so smug through the mask )

The only smart thing to do since March1 was the opposite of what government said even though they might have been well meaning or even right.   If you had a business or were in business, or had a job---- the minute this started your responsibility was to do everything you can to keep working and keep the doors open.   Especially in the midwest.  

Closing the doors or not working for 3 months was an economic killer and there will never be enough money handed out to make up for those losses---  We will loose a lot of businesses and jobs permanently.

In sw ks 1/4 to 1/3 of the businesses that have been idle will not reopen.  For the ones that try to reopen, there will be the reality that most of the spendable cash in individual hands is gone.   IMO our economy has been 60+% based on entertainment and won't come back fast---- The revenues for college and professional sports, high school sports for several months are gone.

Spending will be tight.  Cooking at home, which was rarely done in two job homes is now in fashion by necessity.  There will be very few vacations this summer.  Businesses that made the appearance of distancing and blocking seating and wearing masks and disinfecting in front of customers while still moving product were smart and may survive.  And no one is going to dole out much cash for a subscription to anything to read from an industry that needs those subscription dollars...... that will take a lot of time.  Not many new vehicles bought in 2020.... oil filters and maybe a few new tires.  And just maybe, even without interest rates, we will see more people trying to keep money in their pocket....  just guessing but I think we will see a lot of businesses closing.

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Honored Advisor

Re: Half of it back in taxes? Maybe you need....

I wonder if the Covid situation won`t give cover for some of us that are tired of "keeping up with the Jones`"?   A much needed break from living beyond our means.  Unfortunately in a service based economy, that`s not good.  The meat situation, among other issues for restaurants, a couple getting "2 for $25" at Applebees would end up costing $40 after nickel & diming  and tip, that was pre-Covid.  Now their cost for meat, being shutdown a couple months ect ect.  that $40 bill might be closer to $60......."aaaaah hmmm, maybe we oughta pick up a couple sirloins at Fareway and I`ll fire up the grill when we get home".

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