From:
http://www.nigeriansinamerica.com/vbulletin/archive/index.php/t-7507.html
here's just a little snippet, the whole article is well worth reading....
"......The Biggest Piggie?
When public interest groups compile lists of corporate welfare recipients, a company called Archer Daniels Midland (ADM) is usually at the top of the list. You may never have heard of ADM, because its name rarely appears on consumer products, but its huge. Its products are in most processed foods.
ADM collects welfare because of two cleverly designed special deals. The first is the governments mandated minimum price for sugar. Because of the price supports, if a soft drink maker wants to buy sugar for its soda, it has to pay 22 cents a pound -- more than twice the world price. So Coca-Cola (and almost everyone else) buys corn sweetener instead. Guess who makes corn sweetener? ADM, of course. Now guess who finances the groups that lobby to keep sugar prices high?
ADMs second federal feeding trough is the tax break on ethanol. Ethanol is a fuel additive made from corn, kind of like Hamburger Helper for gasoline, except that its more expensive, so no one would buy it if government didnt give companies that use ethanol a special 52-cent-a-gallon tax break. That costs the treasury half a billion dollars a year. ADM produces half the ethanol made in America.
Why does ADM get these special deals? Bribery. OK, its not technically bribery -- that would be illegal. ADM just makes "contributions." Through his business and his family, former ADM Chairman Dwayne Andreas gave millions in campaign funds to both Mondale and Reagan, Dukakis and Bush, Dole and Clinton. President Nixons secretary, Rosemary Woods, says Andreas himself brought $100,000 in cash to the White House. He even paid tuition for Vice President Hubert Humphreys son. Republicans, Democrats -- it doesnt matter. ADM just gives......."
http://www.nigeriansinamerica.com/vbulletin/archive/index.php/t-7507.html
here's just a little snippet, the whole article is well worth reading....
"......The Biggest Piggie?
When public interest groups compile lists of corporate welfare recipients, a company called Archer Daniels Midland (ADM) is usually at the top of the list. You may never have heard of ADM, because its name rarely appears on consumer products, but its huge. Its products are in most processed foods.
ADM collects welfare because of two cleverly designed special deals. The first is the governments mandated minimum price for sugar. Because of the price supports, if a soft drink maker wants to buy sugar for its soda, it has to pay 22 cents a pound -- more than twice the world price. So Coca-Cola (and almost everyone else) buys corn sweetener instead. Guess who makes corn sweetener? ADM, of course. Now guess who finances the groups that lobby to keep sugar prices high?
ADMs second federal feeding trough is the tax break on ethanol. Ethanol is a fuel additive made from corn, kind of like Hamburger Helper for gasoline, except that its more expensive, so no one would buy it if government didnt give companies that use ethanol a special 52-cent-a-gallon tax break. That costs the treasury half a billion dollars a year. ADM produces half the ethanol made in America.
Why does ADM get these special deals? Bribery. OK, its not technically bribery -- that would be illegal. ADM just makes "contributions." Through his business and his family, former ADM Chairman Dwayne Andreas gave millions in campaign funds to both Mondale and Reagan, Dukakis and Bush, Dole and Clinton. President Nixons secretary, Rosemary Woods, says Andreas himself brought $100,000 in cash to the White House. He even paid tuition for Vice President Hubert Humphreys son. Republicans, Democrats -- it doesnt matter. ADM just gives......."
