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  • Well +++++

    anyone want to comment--------------------------------------------------------------------------------------------------------------dave--------------------------------------------------------------------------------------------------------------------------------------------------------------------Trump Asks for 31% Cut In Crop Insurance
    The White House says this will save billions of dollars.


    whitehouse.gov

    Farmers would pay a far larger share of crop insurance premiums – 52% instead of the current 38% – under the budget proposed by President Trump on Monday.
    The White House also wants to deny farm program benefits to people with an adjusted gross income above $500,000 a year vs. the current cutoff of $900,000 AGI.
    The administration’s revisions to the federally subsidized insurance program, which include a proposed cap on underwriting gains to insurers, would total $25.7 billion over 10 years, or a 31% reduction from CBO’s estimate of crop insurance outlays in the decade ahead.

  • #2
    I'm wondering what the profits are for the companies that sell this product. i know it is much more affordable for farmers in the I states and pays out much better than Crop Insurance pays in the fringe states like Wisconsin Also the costs per dollar of coverage is much lower.. I carried crop insurance most years and got a check one year. And that check actually exceeded the premium costs. The last 4 years the crop insurance premium would have been equal to or greater than the real profits from the crop. All crap insurance policies seems designed to protect the bankers and the input providers. Farmers get analized again

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    • #3
      I think everybody agrees that spending needs to be cut but no one wants their particular thing cut. I don't understand why we can't have a complete across the board cut. A small percent that would affect everyone a little bit but no one to a great extent. I guess it's another example of "the bearing that squeaks the loudest gets the most grease". Or in the government's case, the bearing that doesn't squeak gets forgotten.

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      • #4
        My coming comment will pick up the spirit of discussion,

        and yes, we have and have to use insurance for banking purposes BUT, how many of the whiners can relate to weaning a bucket calf,
        for us it's better some at a time, for my smoking habit of several years back, cold Turkey, what do you want to do?

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        • #5
          I had to ponder on this a bit for Den Den I farmed when their was NO insurance lets say on the CUFF you had to make it with what it made if you borrowed money to put the crop in and signed your name at the local COOP for the Growing goodies you payed that off first as you made the crop then that infamous year happened DROUGHT everyone got caught Bankers were left holding the BAGG they lost Billions that very next year INSURANCE started if you farmed and borrower money for land chemical seed or anything involved in Farming you were required to buy insurance before you received a LOAN period THUSS WE HAVE BANKERS INSURANCE----------------------------------dave

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          • #6
            I must be about the same number of years farming. Co-ops got paid, Loan repayments got pushed back Interest in mid 80's was 24% for me Wish the banker would have pulled the plug. i liked farming but I was never able to catch up, much less get ahead. Insurance premiums whether health life fire hail crop just kept me from putting much or any thing towards principal payment or needed capital expenditures.

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            • #7
              I forgot to mention MONEY was abundant you could borrow all you wanted for about two years at that time if you had the collateral someone would back you oh OH --18 19%------------------------------------------------dave

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              • #8
                NOTHING is free

                and Banking is the second oldest profession in the world...

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                • #9
                  sadly one of the main culprits in a lot of the questionable ground getting broke up a few years ago was the insurance guarantee which provided for high cash rents, yada yada yada....... one of the things needed to get land prices, rents under control is taking part of the ins. game away.......agents make huge bucks on it or so i am told.

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                  • #10
                    that keep giving those Ren's out free hand the ethanol industry will be toast -----------------------------dave

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                    • #11
                      Question #1

                      IF the insurance companies weren't making money, WHY would they continue to offer "their" insurance programs?

                      I'm not understanding post #10 479...I have an excuse, been using a back blade trying to get rid of some ruts by filling them with slime, that's my excuse!

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                      • #12
                        NUMBER 10 a very impotent number President Bush mandated US made gasoline be mixed with different percent of ethanol made from corn his people has bin giving hard ship exemptions to certain oil company's --his friends---to get around this and now it has gotten so bad a lot of ethanol plants are idol or shut because of this a direct thumb in the eye to the farmer and consumer but a boon to that few oil company's and the increase the insurance to us 31 percent TWO wrongs do not make a right only padding a certain few pockets emptying owners-------------------------------------dave-----------------now justify his actions

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                        • #13
                          Our current administration just confirms the old saying, ANY ONE CAN GROW UP TO BE PRESIDENT.
                          Or another saying, the cream doesn't always rise to the top. (especially in government)
                          Rins, E-15, tariff's, how many times does agriculture have to be kicked in the rear end before it hurts

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                          • #14
                            I think they should do away with crop insurance all together. With insurance the guys that want to be big can get highly leveraged. This drives costs (rent) up to get more land. If it goes bad every one takes their cut from crop insurance and rolls the dice again.

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                            • #15
                              Originally posted by iadave View Post
                              I think they should do away with crop insurance all together. With insurance the guys that want to be big can get highly leveraged. This drives costs (rent) up to get more land. If it goes bad every one takes their cut from crop insurance and rolls the dice again.
                              this

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