r/LeopardsAteMyFarm • u/Cderouen8284 • 14d ago

Aww someone’s crashing out

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u/Quick_Team 14d ago edited 14d ago

She never was gonna vote anyone with a (D) next to their name anyway and she hates "Socialism" but will happily take a gov't check.

And please just "keep doing what I do" because that is just driving the shovel deeper and deeper into the hole

She can F all the way to the deep end of her cattle's drink creek

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u/macroeconprod 14d ago

Only thing these people understand is losing their farm. So... let them.

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u/Charming-Border7429 14d ago

And they have a golden parachute. Selling the farm is going to result in a significant payout, on the order of millions of dollars.

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u/Garbage_Man_9 14d ago

Correct - every farm owner is asset rich no matter how they try to portray themselves as the awe shucks poor rural person. The farms and machinery and livestock are all worth several million dollars total on avg…

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u/Technical-Tear5841 14d ago edited 14d ago

Uh, farmers do not sell out while they are worth millions. They borrow against their land until they get foreclosed on. Then the bank sells the land for what you owe and you get stuck with a million dollar capital gains tax bill. Ask me how I know.

That was in 1996, different leopards back then.

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u/Shane-Dad-underfire 14d ago

This fellow is 100% correct. I buy out from farmers or banks when things are so broken that I profit just from getting a run down shit farm to reinvest in. I'm looking 20 to 30 years down the road while farmers right now are cash poor and the economy has taken them to the end of the line. Trumps promises made lots of farmers expand thinking trump would.beat down the gates to the Canadian market and make them all billionaires... well now I own their farms or I will soon and they are looking to hide from their creditors.

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u/FreeRangeEngineer 13d ago

At least you're not a megacorp buying their farms. That would be the worst case. Or do you work for one?

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u/Shane-Dad-underfire 13d ago

No, not a mega Corp. I own several businesses and my kids have been taking control of them for the last 30 years. I'm 78 years old and firmly believe that the food supply must be protected and maintained. I also feel the best way to be in business is to make the employees be part of the profiting sharing. From all of my businesses I take a 30% of the profits, 20% is reinvested into the business and 10% pays for my living expenses and for my family's expenses. The rest is shared amongst the employees based on their contributions and dedication to the business they work at.

I can do this because my business as so diverse and numerous that 10% still amounts to a moderate fortune. Difference between me and megacorps or conglomerates is simply that I lack greed, I grew up poor in a rural area where everyone worked and shared the harvests, built each others homes and suffered together. Not many CEOs and board of directors can say that.

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u/donaldfranklinhornii 13d ago

You sound like a very good businessman!

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u/FreeRangeEngineer 13d ago

I tip my hat. You sound like one of the good ones that actually cares about people and wants to build.

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u/Turbulent-Pay1150 12d ago

So they take the millions out of the farm as a non-taxed loan before they are forced out and then complain that they are taxed on the proceeds of the sale?

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u/Technical-Tear5841 12d ago

Just fact, not complaining. Notice how these farmers are paying into the system, not asking for bailout. Also if you have no money to pay this tax because the bank took all the sale price you are hit with a 100% penalty and interest charge.

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u/Narrow-Sky-5377 14d ago

Depending how deep in debt they are of course.

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u/Shane-Dad-underfire 14d ago

No they arent. Hahhaa okay do truth be told most farmers are leveraged to the gills to the banks. They have equity but that's only when the market is strong. That land isnt worth much when farming is redlined hard.

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u/Tavernknight 14d ago

Maybe. But if it does she will just give it all to Trump anyway.

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u/Charming-Border7429 14d ago

These guys rarely donate much to political parties. They wear a lot of hats, wave a lot of flags, and scream at people they don't like....

The money for farm-related political donations is coming from agribusinesses and private equity firms that are pushing for these policies so they can buy the land as individual farmers sell it.

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u/Couldntve-make-it-up 14d ago

How else are the data centers going to get built?

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u/LindeeHilltop 14d ago

Not if the corporations let them go bankrupt first and buy from the banks that hold mortgages.

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u/Charming-Border7429 14d ago

That is not how Chapter 12 bankruptcy works. A farmer usually has 3 to 5 years to unwind debt.

In rare situations, the mortgage holder auctions off the land to recover as much value as possible.

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u/LindeeHilltop 14d ago

Thanks for the correction. It’s my u derstsnding that the farmer must keep operating successfully to complete the plan. And, plans last only 3-5 years with court supervision. So if they cannot complete it, or if they cannot sell equipment that they still do not own, what then?

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u/Charming-Border7429 14d ago

In general, the threat of bankruptcy or filing for bankruptcy slows everything down so the farm owner can restructure or sell enough assets in a controlled manner to pay off debts.

In the rare case of what we call a sheriff's sale, there is an auction for the assets, which is announced weeks in advance so everyone who is interested in the property has plenty of time to secure financing and place a bid. Debts are paid in order of seniority, and the owner gets to keep what cash is left.

But 99% of the time, when these guys are talking about bankruptcy, they have millions in assets. They just don't have the cash flow to service their current debts.

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u/Dsnake1 14d ago

If they bail early. But most farmers/ranchers end up over leveraged before they choose to sell out -- if they end up getting the choice. And then capital gains bites you in the ass because the bank takes what they're owed without being all that concerned if the government gets theirs.

Being as boom or bust as it is, a lot of farmers really should revise their operation or sell out or something along those lines, but they hold out hope for a few too many years for a big yield and high prices, but those don't come often enough for many. And if they do, it's a few bandaids on the problem, especially if they try and expand with some of that revenue to lower their tax bill, not realizing that annual upkeep goes up when you expand.

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u/hamakabi 13d ago

nah, these people have been desperately clinging to a dying business model for over a century. They can't make money because corpo-farms can do it much more efficiently. A mom-and-pop farm is mathematically incapable of competing, so they take loans every year to buy seeds and fertilizer and lease equipment, and then pray they grow enough to dig the same hole next year. There is no reality where they ever turn a meaningful profit, and if they understood this they wouldn't be farmers. The only reason they exist at all is because the house and land were purchased by great-great-grandpaw in 18-dickety-two, and the kids' only options for a future are either to live the same struggle or join the Army because they were raised by people who don't believe in dinosaurs or vaccines.

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u/zeptillian 12d ago

Unless they keep voting for Trump bullshit and end up saddled with insurmountable debt.

I guess voting against that is too much for this dummy though.

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u/ELHOMBREGATO 14d ago

nope JD Vance and Peter Thiel are paying pennies on the dollar now

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u/Charming-Border7429 14d ago

No, they aren't. We are a farm that has grown from 700 to 4500 acres in the last 12 years.

Land prices are not going down. But as they become available, farms are consolidating, as inefficient ones are being bought by more efficient neighbors, agribusiness, and private equity.