Re:Wild bidding wars erupt at used-tractor auctions across t...
by SilasX on Sunday November 14, 2021 @05:44PM
(#29221465)
>It's a good question, and I don't have the answer.
It's really the kind of thing you want to resolve before spreading a statistic like that.
Re:Wild bidding wars erupt at used-tractor auctions across t...
by theptip on Sunday November 14, 2021 @06:08PM
(#29221644)
I couldn’t disagree more. I was clear about my level of epistemic uncertainty in my OP. And there is a good discussion going on here.
Re:Wild bidding wars erupt at used-tractor auctions across t...
by SilasX on Sunday November 14, 2021 @10:13PM
(#29223239)
Not about that part of it, no, and that information is critical context for interpreting that figure.
So yes, you maybe said insightful things other than that comment, but you didn’t open up about critical content there.
And here's a more detailed NBER paper digging into distribution of subsidies: https://www.nber.org/papers/w16693
My general impression so far is that the subsidies are not being disbursed pro-rata to production rates, and larger farms (having more legal resources) are much more able to capture these subsidies; for example with exotic ownership structures of lots of subsidiaries, to maximize the capture of subsidies. These financial/legal engineering strategies simply aren't available to smallholders. It's the same sort of incentive structure that produces outcomes like the biggest companies paying the lowest tax rates.
Also, correction, I believe I have mis-quoted the stats off the top of my head -- the Cato article suggests it's more like 80% of subsidies to the top 10%. The general point still stands.