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POPSMichele Bachmann: Welfare Queen Bachmann’s financial disclosure forms indicate that her personal stake in the family farm is worth up to $250,000. They also show that she has been earning income from the farm business, and that the income grew in just a few years from $2,000 to as much as $50,000 for 2008. This has provided her with a second government-subsidized income to go with her job as a government-paid congresswoman who makes $174,000 per year (in addition to having top-notch government medical benefits). “If she has an interest in a farm getting federal subsidy payments, she is benefiting from them,”
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POPSSocialized Farming In rural America, the LDP is a topic at backyard barbecues and local diners along with the high school football team and the weather. Despite its name, it is neither a loan nor, in many cases, payment for a deficiency. It is just cash paid to farmers when market prices dip below the government-set minimum, or floor, if only for a single day. ad_icon The LDP has become so ingrained in farmland finances that farmers sometimes wish for market prices to drop so they can capture a larger subsidy. "Most smart farmers are cashing in on it," said Bruce A. Babcock, director of the Center for Agricultural and Rural Development at Iowa State University. "It shows me that farmers are being overcompensated."
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