Steve Forbes on Labor & Farming

Family farms: Lower interest rates; enforce anti-trust

Q: Since the family farmer is self-employed, would you cap government agriculture benefits to a modest 1-family level? A: For the farmer there’s several things that have to be done.

Open up foreign markets

Don’t harm our existing foreign customers in the Pacific Rim & elsewhere with disastrous economic policies that have cost us $30 billion in farm exports

Enforce anti-trust laws against vertical integration

And the Federal Reserve has got to get off of this high interest rate kick. Source: GOP Debate in Johnston, Iowa Jan 16, 2000

Farmers need policy reform

Q: Most farmers would rather get adequate pay at the marketplace instead of receiving government subsidies to tide them over. What will you do as president to help farmers get sufficient pay for their work?

One is to open up foreign markets.
No. 2, stop hurting our existing customers overseas for our farm products and other products by having the International Monetary Fund and Treasury Department wreck economies by giving them high taxes and trashing their money.
We also must get the Federal Reserve on a steady monetary policy instead of raising interest rates which severely damages commodity prices. It happened 15 years ago.
We must also enforce anti-trust laws, integration in the farm sector and the food sector.

Source: Republican debate in West Columbia, South Carolina Jan 7, 2000

Ethanol should be self-sufficient by 2007

Q: Do you think that ethanol has had a fair test in the marketplace? A: I’ve supported having a few years of a fair test. In the year 2007, when this current program expires, if it can’t stand on its own two feet, then it ought to go. What we have here is a bankruptcy of finding new uses for agricultural products. With a little investment in imagination we will find fantastic productive uses that will pay very rich dividends. So, yes, let ethanol have its run to 2007. If it doesn’t work, cut it out. Source: Des Moines Iowa GOP Debate Dec 13, 1999

Raise wages by allowing growth, not by fiat

Q: Do you support the elimination of the minimum wage? A: If a state has a minimum wage, and they want to get rid of it, fine. But they are under federal law. We have a [federal] minimum wage and there’s no way they can opt out of that. But the best way to raise wages in this country is not through government decree. The way to do it is remove barriers to people getting ahead, have investment incentives, get more growth than we have today, which we’re capable of doing, and productivity - not by fiat. Source: Des Moines Iowa GOP Debate Dec 13, 1999

Farm crisis caused by federal policies

America’s farm economy is in serious trouble. Interest rates are too high, and while the Federal Reserve raises rates, commodity prices have plummeted. Agriculture is in crisis and deeply flawed government policies are the cause. Now is the time for change. We need to reduce interest rates, tear down trade barriers to open new markets, reduce taxes and regulations on farmers, investigate potential anti-competitive practices, and encourage the use of private crop insurance. The time to act is now. Source: Steve Forbes 2000 Online HQ, “Radio ad in Iowa” Aug 5, 1999

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