Friday, June 2, 2017

Florida's Sugar Racket

The sugar program, known to its many critics as the “sugar racket,” is a tangle of price supports, which increase the cost of sugar in the U.S., and tariffs and quotas on imported sugar, which keeps cheaper sugar from reaching our market.
“There’s probably no better example in U.S. history of a case of both legal plunder and crony capitalism that has been tolerated for so many years, and that has picked more money from the pockets of Americans,” than the sugar program, says American Enterprise Institute economist Mark J. Perry
But it’s a great deal for the three Florida companies that produce nearly half of the country’s sugar supply: U.S. Sugar, the Sugar Cane Growers Cooperative of Florida, and the Fanjul Corp., which has helped fund Sen. Marco Rubio’s political career.
Tthis program is causing environmental wreckage in Florida that their tax dollars will have to pay for.

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