Still no reason to subsidize crop insurance

The opinion piece by Doug Stark on 3/24/2013 in The Des Moines Sunday Register gave several great reasons why crop insurance is important and beneficial to both farmers and our economy. (See: “Another View: Crop insurance stabilizes jobs and economy” link below.)  However, he did not give a single reason why taxpayers should subsidize the premiums.  Purchasing insurance to cover various types of risks is usually a smart business decision.  Most businesses and individuals by various types of insurance to cover a variety of risks of loss.  But most businesses and individuals are expected to pay the full cost of whatever coverage they need – unless they are poor.  Most farmers are not poor.  Most farmers should not receive any subsidy.  Maybe only poor farmers should be given a welfare voucher that would provide a partial subsidy up to a specific dollar amount premium.

 

Link to Register article: http://www.desmoinesregister.com/comments/article/20130324/OPINION01/303240035/Another-View-Crop-insurance-stabilizes-jobs-economy

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