Farmers and ranchers use futures contracts as a hedge against price fluctuations, as do elevators that buy and sell grain.

Bethany Shively, spokeswoman for the National Cattlemen's Beef Association, said such a tax would impact a producer's effort to stay in business by buying and selling futures.

"Any additional taxes or fees on these instruments would be a tax on ag producers, and that is unacceptable," Shively said. "This type of proposal would put jobs at risk, not help offset their creation."

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Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Labor/Labor Unions/Labor Market • Stock Market • Taxes

1. GuadalupeF wrote: Additional tax will only add to the burden of the agricultural industry. This will only lead to more expenses with low production. I would rather have them buy stocks than give them tax. December 10, 11:23 pm | [comment link]

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