221–230 of 284 posts
Earlier quoted context omitted.
It was necessary at the time yes, it's just drastically outlived its usefulness.
Useful to who? It's working exactly as intended. You shouldn't get to unilaterally change the terms of a contract. If both parties agree, then sure. But if not, you have to accept the good with the bad, it's a compromise. We've gotten a lot more out of the deal than it has ever cost.
To the electorate at large.
I own the farm and farm it in Illinois. I owe the land through an LLC, because farming is dangerous and I don't want to go bankrupt if somebody sues me. Farms are expensive and hard to subdivide, so people will put them into a legal entity and pass down to the next generation via a trust. All of my neighbors are doing the same, so we're all counted as "not farmers" here Farming is a terrible business. My few hundred…
I own the farm and farm it in Illinois. I owe the land through an LLC, because farming is dangerous and I don't want to go bankrupt if somebody sues me. Farms are expensive and hard to subdivide, so people will put them into a legal entity and pass down to the next generation via a trust. All of my neighbors are doing the same, so we're all counted as "not farmers" here Farming is a terrible business. My few hundred…
Yeah, I think it would have been more useful if the Tribune had been able to determine "how many people are farming on land which they do not own" whether directly or through an LLC/company. The amount of land owned by "out of state" owners may help answer this question but they don't give a number for that either. (A local farmer could also register their LLC out of state though I'm not sure whether that's beneficia…
(I'm not a member of any guilds)
Earlier quoted context omitted.
Okay, but as mentioned, 5 million also buys 20 year treasuries that yield 4.90%, or about 245k a year. I probably wouldn't buy them on margin tho.
> I probably wouldn't buy them on margin tho. Yeah, this is the pertinent detail. The whole point is putting down only a fraction of the amount. When you calculate the rate of return on a financed property, the rate of return is versus the capital you put down, not the value of what you financed. Plus accruing equity in the property is part of the return. If you put down $1.25 million and you get a $5 million propert…
Earlier quoted context omitted.
If you don't need a couple of million dollars worth of tractors, combines, and other equipment that are all driven by GPS then you don't have enough acres.
Lol, a couple million. A single combine can easily be 1mil. And when you need them, you need more than one.
I own the farm and farm it in Illinois. I owe the land through an LLC, because farming is dangerous and I don't want to go bankrupt if somebody sues me. Farms are expensive and hard to subdivide, so people will put them into a legal entity and pass down to the next generation via a trust. All of my neighbors are doing the same, so we're all counted as "not farmers" here Farming is a terrible business. My few hundred…
> all without the ick that comes with running other businesses can you elaborate on this perception?
Most farms are not owned by farmers, most housing is not owned by tenants, most airplanes are not owned by airlines, etc., etc.. Vertical integration can have benefits, but it isn't necessary and has drawbacks. Even when vertically integrated, regulations are often written under the assumption that everything is leased, not owned, so compliance is easier if you own a company that owns an asset, instead of owning that…
>Most farms are not owned by farmers, most housing is not owned by tenants, most airplanes are not owned by airlines, etc., etc.. Sounds nice but it's not true in the US. A majority (60%) of US land in farms is owner-operated.[1] US homeownership is 65% meaning most housing units are owner-occupied.[2] And 60% of North American airplanes are owner-operated not leased.[3] [1] https://www.ers.usda.gov/topics/farm-econo…
I own the farm and farm it in Illinois. I owe the land through an LLC, because farming is dangerous and I don't want to go bankrupt if somebody sues me. Farms are expensive and hard to subdivide, so people will put them into a legal entity and pass down to the next generation via a trust. All of my neighbors are doing the same, so we're all counted as "not farmers" here Farming is a terrible business. My few hundred…