Farm groups and Farm Belt politicians have vigorously complained about the effects of the Trump administration’s proposed $ 4.8 billion in annual cuts to the $ 23 billion in subsidies currently given to farmers. They argue the cuts will hurt agricultural production, raise food prices and make ordinary households worse off.

The reality, perhaps surprisingly, is that there would be little impact. Only 2% of all farm households fall below the federal poverty line, according to the Agriculture Department, and none of these small farms would be affected by the cuts.

Given the support of Farm Belt voters for Donald Trump, the cuts, at least in some form, have a real chance of becomi… – All MarketWatch News – Personal Finance