Many people get upset about income inequality, and for example the fact that the top 1% earned almost 23% of total income in 2007 (see table above, IRS data here). But not too many people seem to get very upset about the fact that "farm subsidy inequality" is even greater, see the table above (data here).
For example the top 10% earned about 48% of all income in 2007, but the top 10% of the recipients of farm subsidies received 74% of all subsidies between 1995 and 2009 (an average of $445,000 per recipient). For just the year 2009, the top 10% of recipients received a little less, 61% of the total, averaging about $48,000 per recipient. Where's the outrage about "farm subsidy inequality?"
Tuesday, July 13, 2010
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