SMRs and AMRs

Saturday, March 08, 2008

The billionaire/farm subsidy link

Thanks to congressional-mandated farm subsidies and the American taxpayer, this country's rich are only getting richer. For example:
Minnesota's megamoola: Cargill heirs double fortune

Casey Common, Star-Tribune
March 6, 2008

It's been a good year to be in the food, fuel and fertilizer businesses. Just ask the MacMillans.

According to Forbes magazine, Cargill heirs Whitney MacMillan [2003-05 farm subsidy income: $144,858] and Cargill MacMillan Jr. saw their fortunes more than double in the past year, to a net worth of $4.4 billion each, from $1.7 billion a year ago. That makes them the richest Minnesotans and No. 236 among the world's billionaires, the magazine said this week.

The family owns about 90 percent of Minnetonka agribusiness giant Cargill Inc., according to Forbes.

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