Dick Lugar: “let us take the situation of a farmer in America who has land. This is a basic asset for that farmer. Certainly, as…”

“let us take the situation of a farmer in America who has land. This is a basic asset for that farmer. Certainly, as common-sense rules, the farmer will plant a crop on the land or attempt to use the land to obtain income. Certainly it is conceivable that there are Americans who have productive assets and might decide that they simply do not want a return from those assets. But this is improbable. Most persons of sound mind and common sense who have opportunities to utilize economic assets, do so. And they do so continuously to make a living. For example, the Senator from Iowa has pointed to a potential Kansas farmer, maybe an actual farmer, but as I recall the instance, there were as many as 1,800 acres of wheat crop, and given prices, as the Senator pointed out, that farmer might have a return of almost $200,000 from the markets that are very strong for wheat. The Senator also pointed out that a Government check for $39,000 might also come to that farmer under current programs. The suggestion was that that farmer might have the option to go to Hawaii and simply forget the wheat fields and collect the check for $39,000. That is possible as an option for that farmer, but most people would ask, what about the $200,000 that he normally takes off the farm? Mr. President, if the farmer himself is elderly, it is a very probable set of circumstances in America today that the farmer will rent the land to somebody else and share the return.”