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<blockquote data-quote="ChrisB" data-source="post: 842303" data-attributes="member: 122"><p>In Minnesota we don't have to pay taxes on farm related purchases, is it the same in all states? Wouldn't that be considered a subsidy? Do you use any other tax advantages provided to farmers and ranchers that are not provided to other industries or individuals (like maybe property tax savings)?</p><p></p><p>Also if I'm not mistaken, the majority of the ethanol subsidy goes to the refineries as a tax credit for blending the ethanol with gasoline. And a smaller amount goes to ethanol producers. But the ethanol subsidy doesn't really go to corn farmers since the law says that refineries must have a 10%(?) blend. The government could decide to phase the amount of biofuels used and make the ethanol industry stand on its own. At this point it would be tough to totally eliminate all help to the ethanol industry. If the government promises that there will be a mandatory 10% of ethanol in all gas sold and I decide to invest a large chuck of money into an ethanol plant and now a couple years later if the government were to change their mind and remove that policy I could possibly lose nearly my entire investment. That would almost be like paying into S.S. all these years with the government promising that I will get it back when I retire and then changing their mind right before it's time to retire.</p><p></p><p>But didn't the government just vote last week to phase out the ethanol subsidy anyway?</p><p></p><p>I'm not saying I agree with or approve of any type of subsidy at all but once the government gets involved there are a lot of consequences when they try and pull out. I think most everyone would agree that they probably should have never got involved in the first place. But a steady energy and food supply are possibly the two most important things in preventing total chaos so I can understand it to some degree.</p></blockquote><p></p>
[QUOTE="ChrisB, post: 842303, member: 122"] In Minnesota we don't have to pay taxes on farm related purchases, is it the same in all states? Wouldn't that be considered a subsidy? Do you use any other tax advantages provided to farmers and ranchers that are not provided to other industries or individuals (like maybe property tax savings)? Also if I'm not mistaken, the majority of the ethanol subsidy goes to the refineries as a tax credit for blending the ethanol with gasoline. And a smaller amount goes to ethanol producers. But the ethanol subsidy doesn't really go to corn farmers since the law says that refineries must have a 10%(?) blend. The government could decide to phase the amount of biofuels used and make the ethanol industry stand on its own. At this point it would be tough to totally eliminate all help to the ethanol industry. If the government promises that there will be a mandatory 10% of ethanol in all gas sold and I decide to invest a large chuck of money into an ethanol plant and now a couple years later if the government were to change their mind and remove that policy I could possibly lose nearly my entire investment. That would almost be like paying into S.S. all these years with the government promising that I will get it back when I retire and then changing their mind right before it's time to retire. But didn't the government just vote last week to phase out the ethanol subsidy anyway? I'm not saying I agree with or approve of any type of subsidy at all but once the government gets involved there are a lot of consequences when they try and pull out. I think most everyone would agree that they probably should have never got involved in the first place. But a steady energy and food supply are possibly the two most important things in preventing total chaos so I can understand it to some degree. [/QUOTE]
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