Farm aide bill

[FHF]

[quote=SaltMuck;2109221]

Not sure why you call the reason for the bill a bust. This is a regional weather event. Bust has to do with prices, which were at rock bottom in Jan '15.

"Boom & Bust" is a figure of speech. I was simply saying that all businesses go through good times and bad, did not refer to this bill as a bust.

[Sportin' Woodies]

I was agreeing with you saltmuck

[SaltMuck]

My bad SW.

[LabLuvR]

I'd have the same outlook, but crop insurance isn't what you think. I'm working up a emergency loan for a guy who has above-County average yields for grain sorghum. On his 200 acres, he yielded only ~$6,000 in crop sales. Crop Insurance paid him ~$10,000, so his gross farm income($16k) of $80/Ac won't cover the crop input cost of ~$300. See the problem?

Yea, I get it. He had a gap for which he needed to make up. This somewhat surprises me. Most insurance is designed to make a person whole. I have zero experience selling crop insurance, so I don't really understand why a gap existed unless it has something to do with the farmer assuming some of the risk, thereby keeping the premiums affordable.

I'm all for a farmer getting funds "if" they have taken some self preservation action by getting insurance. A person who did not try to protect themselves is just waiting for the taxpayer to step in and cover a loss they should have prepared for but didn't being a cheap ass.

[JABIII]

Crop insurance isn't what you think it is...

[wbrown609]

Our tax code makes it hard to put money back for a rainy day. All the money you want the farmers to put back during the good years gets taxed as profit. This goes for any business. Another reason for tax reform.

[LabLuvR]

Crop insurance isn't what you think it is...

Apparently not. I expected that the coverage amounts would have been much higher.

[flopduster]

When they have a good year they buy land or equipment they don't really need, and finance the balance. Then when they have a bad year they can't make the payments on the land or equipment they didn't need they bought to avoid taxes.


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[SaltMuck]

When they have a good year they buy land or equipment they don't really need, and finance the balance. Then when they have a bad year they can't make the payments on the land or equipment they didn't need they bought to avoid taxes.


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Wow....

Who you voting for tomorrow?

[SOUTHERN WOODS]

What about the logger who loses $5-10k or more per day because it is too wet for him to work? Who helps him or anyone else in an industry that lost income due to the flood?

DT, after you are done eating your meal you need too go wipe your butt with a corncob and rethink this handout.

Food shortage... what a crock

[Southernduck]

Yea, I get it. He had a gap for which he needed to make up. This somewhat surprises me. Most insurance is designed to make a person whole. I have zero experience selling crop insurance, so I don't really understand why a gap existed unless it has something to do with the farmer assuming some of the risk, thereby keeping the premiums affordable.

I'm all for a farmer getting funds "if" they have taken some self preservation action by getting insurance. A person who did not try to protect themselves is just waiting for the taxpayer to step in and cover a loss they should have prepared for but didn't being a cheap ass.

Crop insurance and P&C are two totally different animals and not comparable at all. I would guess that 80+% of the growers in this state carry crop insurance. I have personally worked with several growers in the past month that have told me they had total crop failures and after crop insurance payout they are still 40+% in the hole all because of three days of rain.

Farming is the only business where you pay retail prices for all of your inputs to sell all of your product at wholesale prices.

[Timberman22]

I'm also curious as to why the loggers / forestry industry wasn't included in this Obama "bailout"? Some loggers didn't work for weeks or a month but still had to make the $50K notes for the equipment. Where do we draw the line and how do we pick who gets help and who doesn't? It's all about agendas plain and simple.

[Southernduck]

I'm also curious as to why the loggers / forestry industry wasn't included in this Obama "bailout"? Some loggers didn't work for weeks or a month but still had to make the $50K notes for the equipment. Where do we draw the line and how do we pick who gets help and who doesn't? It's all about agendas plain and simple.

Did loggers lose an entire years crop? They had business interrupted not not totally destroyed. That said I don't see anywhere in that bill that excludes loggers if they can prove the loss.

[SOUTHERN WOODS]

Did loggers lose an entire years crop? They had business interrupted not not totally destroyed. That said I don't see anywhere in that bill that excludes loggers if they can prove the loss.

A few weeks without income can put a logger out of business. You have to realize exactly what it costs to log. The way I read the bill it is for farmers and their losses. I

[Southernduck]

I have a pretty solid understanding of what it takes financially to log and to farm. Both should put away more money for a rainy day but the tax man kills them.
Once again 3 days of rain crushed 9 months of work and put off payday Friday for a year for an industry. Loggers are and have been whacking down every hill since late October.

[SOUTHERN WOODS]

I have a pretty solid understanding of what it takes financially to log and to farm. Both should put away more money for a rainy day but the tax man kills them.
Once again 3 days of rain crushed 9 months of work and put off payday Friday for a year for an industry. Loggers are and have been whacking down every hill since late October.

So farmers only get paid once a year? How many crops get planted in a year's time and hauled to market?

Loggers have been whacking down every hill but what everyone fails to understand is that even a hill won't work after so much rainfall. My guys lose anywhere from $5-10k per day in production if they don't work. Couple that with finance companies that want their money whether it is raining or not. Not to mention the fact that the insurance company wants their cut and you still have other bills before you even get to put money in your pocket for yourself or family if any is left. I don't understand why DT and his company of cronies in Columbia doesn't realize it isn't only farmers that were affected or even loggers... It was plenty of people in business. If you give a handup or handout ever how you choose to define it to one then give it to all or none.

[Sparkleberry Ridge Runner]

Some farmers lost on pnuts. Some lost on cotton and some lost on soybeans. Y'all act like those are the only 3 crops they grow. They lost a portion of their annual income, yet when another industry looses a portion of their annual income, no one cares (but they can get a loan which has to be paid back).

[Southernduck]

So farmers only get paid once a year? How many crops get planted in a year's time and hauled to market?

Loggers have been whacking down every hill but what everyone fails to understand is that even a hill won't work after so much rainfall. My guys lose anywhere from $5-10k per day in production if they don't work. Couple that with finance companies that want their money whether it is raining or not. Not to mention the fact that the insurance company wants their cut and you still have other bills before you even get to put money in your pocket for yourself or family if any is left. I don't understand why DT and his company of cronies in Columbia doesn't realize it isn't only farmers that were affected or even loggers... It was plenty of people in business. If you give a handup or handout ever how you choose to define it to one then give it to all or none.

One peanut crop, one bean crop and one cotton crop each year. They all start harvest around the 1st of October. I don't disagree that loggers had a tough go of it too, but they are like dairy farms, they have constant cash flow, money coming in daily and money going out daily. A row crop farm has money going out all year for one short time to bring it all back in.
You are right it isn't just the farmer who has lost out, it is also all of the people he buys from that have not been paid from last year because he can't. The farmers suppliers are hoping that the farmer gets help so that he can pay him back.
Small town agrarian SC is in big trouble if the farm economy goes tits up because of a 1000 year flood.

[SOUTHERN WOODS]

One peanut crop, one bean crop and one cotton crop each year. They all start harvest around the 1st of October. I don't disagree that loggers had a tough go of it too, but they are like dairy farms, they have constant cash flow, money coming in daily and money going out daily. A row crop farm has money going out all year for one short time to bring it all back in.
You are right it isn't just the farmer who has lost out, it is also all of the people he buys from that have not been paid from last year because he can't. The farmers suppliers are hoping that the farmer gets help so that he can pay him back.
Small town agrarian SC is in big trouble if the farm economy goes tits up because of a 1000 year flood.

I will leave it at this you have constant cash flow until you can't work then you have money going out and if for long enough then you go belly up. With an investment of 500k to 1 mil not everyone has the balls to roll the dice to get started and our industry can't afford to lose a single one. I know of one guy that has been in business for 40 years that will not likely be able to sustain his business because of the rainfall. I am sure he is just one in a sea of many but what is DT doing to help his kind?

[JABIII]

To cut to the chase, The Farm Lobby > The Wood Lobby. Pay your Lobbyists more and see greater returns when it counts. Lock thread...