Corporate taxes are only high for those that "pay" the "rate", many don't. Much like the 51% of folks that don't pay "income tax", many corporations have "loopholes".
As for the price of corn, let's see what congress cuts when they get back.
Ethanol is a real problem. clo
ObamaCare’s Immediate Impact
by Brad Warbiany
As we all know, most of ObamaCare is pushed out to 2014 or so.
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Ethanol projected to consume more corn than livestock
Monday, August 22, 2011 | 10:58 a.m. CDT; updated 1:14 p.m. CDT, Monday, August 22, 2011
BY Benjamin Unglesbee
COLUMBIA - Pigs and chickens aren’t the only ones with an appetite for corn these days. Cars gobble the stuff up too, and this year, vehicles are projected to consume more corn than livestock for the first time in U.S. history.
Gene Danekas, Missouri director of the National Agricultural Statistics Service, said the USDA estimates that 5.1 billion bushels of corn will be used to make ethanol this year, while 4.9 billion will be used for feeding livestock.
“Ethanol is taking a larger and larger share of production,” said Seth Meyer, an MU agricultural economist with the Food and Agriculture Policy Research Institute. “I know it’s been overtaking feed for a long time.”
The number of bushels of corn consumed by the ethanol industry began spiking in 2006. Joe Parcell, an agricultural economist at MU, said the shift in corn use toward ethanol was inevitable.
http://www.columbiamissourian.com/stories/2011/08/22/ethanol-projected-consume-more-corn-livestock/
Posted on Monday, 08.22.11
Kansas farmers wary as Congress eyes farm subsidies cuts
By Rick Plumlee
The Wichita Eagle
Farm income is up nationally, and grain prices are high. The economy is down, and Congress is in a cutting mood. So expect the folks in Washington to try to take a sharp knife to federal farm subsidies, which totaled more than $15 billion nationally and nearly $1 billion in Kansas in 2010.
Farmers and agriculture groups are grimacing. Farm subsidy opponents are grinning.
The direct-payment program is expected to be the main target. Most farmers are resigned to losing at least some of that, but they're also dead set on retaining another possible target, the federal 59 percent subsidy for crop insurance.
Based on the past four years, ag economists' best guess is that direct-payment cuts would drop Kansas farmers' average annual income about $8,000, to $110,000.
"If you accept the fact there's going to be some cuts — and most people probably do — you couldn't have a better time for it," said Kevin Dhuyvetter, an ag economy professor at Kansas State University. "We've gone through four pretty doggone good years in a row."
Nationally, net farm income is expected to be up nearly 20 percent to $94.7 billion in 2011, according to the U.S. Department of Agriculture. Corn hit a record high of a shade under $8 a bushel in June; wheat and soybeans approached the record highs set in 2008. Wheat was going for $7.93 a bushel at the Garden Plain Co-op on Friday.
While this year's severe drought will take a bite out of farm incomes in Kansas, Oklahoma and Texas, the farm bill is all about the big picture and what's happening across the country.
"It all boils down to it's been a pretty good time to be a crop producer," Dhuyvetter said. "The last thing you would want is to have to take cuts when we just had three years of losing money."
That doesn't make the pill easier to swallow for the Kansas farmer who has just watched his corn and soybean crops burn up, but Congress is intent on spending reductions.
Not even one of the few congressional coalitions that cross party lines — politicians from major agriculture states — is expected to be able to protect its turf.
To read the complete article, visit www.kansas.com.
Read more: http://www.miamiherald.com/2011/08/22/2369662/kansas-farmers-wary-as-congress.html#ixzz1Vn1HcWMo
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