What’s more addictive than sugar? Sugar subsidies.
(From The Hill)
The sugar program is designed to operate as a government-sanctioned cartel where government obligations established by the program are contrary to the interests of American consumers, workers and taxpayers. Many Americans do not know that the federal government controls sugar production volumes and assigns quotas to individual private companies within the cartel. The sugar program also obligates the government to buy any excess sugar and sell it at a hugely discounted price to ethanol producers. For example, the government (taxpayers) have purchased sugar for over 20 cents per pound and sold it to ethanol producers for less than 5 cents per pound. The sugar program is a classic command-and-control program. And, a classic example of how to lose money.
To provide excessive benefits to sugar producers, Washington imposes a hidden tax on every consumer in the nation. The sugar program costs U.S. consumers and businesses an average of $3 billion a year in artificially higher prices.