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ATR: USDA Ships Out Employees · The Vance Crowe Podcast

• 0:00
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• 1:37
  Unknown: Welcome to the Ag Tribes Report, a breakdown of the top stories affecting the culture of agriculture
• 1:42
  with your host, Vance Crow.
• 1:45
  The report begins in three,
• 1:47
  two,
• 1:48
  one. Let's begin.
• 1:51
  Unknown: Welcome to the Ag Tribes Report. I'm your host, Vance Crowe. Each week, I bring on a cohost that represents one of the many ag tribes that collectively make up US and Canadian agriculture.
• 2:02
  This week, we have Elliot Henderson who goes by Elliot Henders seven on x.
• 2:07
  Elliott is an Iowa farmer and Iowa Corn Grower Association director for District 3,
• 2:13
  driving advancement in corn production and policy advocacy.
• 2:16
  As a combat veteran and cohost of the Rush Hour Ag podcast, he helps growers navigate market challenges
• 2:23
  and tech innovations.
• 2:24
  Elliott operates a row crop farm and a sod farm among many other,
• 2:30
  income generating ventures.
• 2:31
  Welcome to the podcast, Elliott.
• 2:34
  Unknown: Thanks, Vance. Yeah. This is pretty cool.
• 2:36
  Unknown: So, tell me a little bit more about your, income generation. When we were talking last, you were on your sod farm, but what all do you do?
• 2:44
  Unknown: Yeah. We've got a sod farm. We,
• 2:46
  do a lot of commercial snow removal in the wintertime too.
• 2:50
  We've got a grain merchandising facility. We've had events center, reception halls,
• 2:55
  trucking businesses. We kinda had to do it all just so we can
• 2:59
  have a life in row crop.
• 3:01
  Unknown: And a combat veteran, that's, unusual for a farmer. What's your experience there?
• 3:06
  Unknown: So,
• 3:08
  I, my dad had always wanted me to go to college, so I went to college. And, nine eleven had kinda happened about that time too. And when I wanted to come back to the farm, you know, my dad wasn't ready yet. And,
• 3:20
  I can remember, you know, when they flew the planes into the buildings on nine eleven, I was
• 3:26
  actually, I think I was reading Blackhawk down when that had happened, and I thought, well, if there was ever an opportunity to do something like that,
• 3:32
  count me in. So,
• 3:33
  life took me down a different path, and I went that way and then,
• 3:36
  came back home, started a family, and
• 3:39
  ag really wasn't there for me. So my wife and I, we decided to get started on our own.
• 3:45
  Unknown: And, so tell me a little bit about,
• 3:48
  you what you've been paying attention to lately.
• 3:50
  Unknown: Sure. Well,
• 3:53
  it has not stopped raining here in Northeast Iowa, so we're literally trying to keep our heads above water some days. But,
• 4:01
  this fertilizer thing, I think, is a big issue right now that,
• 4:04
  is really we're just starting to kinda crack the surface on on some of the what's going on. It's starting to come into more light, and, I think it's gonna really take a lot more people talking about it to to get to make some change happen with it. Otherwise, I think we're gonna continue going down this path of consolidation
• 4:22
  and,
• 4:23
  market manipulation.
• 4:25
  Unknown: Well, we are gonna cover some, some stories that I'm I'm looking forward to your insight. Tonight, we're gonna talk about the USDA's major reorganization
• 4:33
  to refocus on core farming support. We're gonna talk to them about the Midwest corn facing pollination failures in certain hybrids,
• 4:42
  due to overly tight tassel wrap. And, we're gonna talk about the EPA opening up public comment on Dicamba
• 4:49
  for reregistration
• 4:50
  of soybeans and cotton. And, if we have some time, let's talk a little bit about, fertilizer and where the prices are going. We're also gonna compare
• 4:58
  farmland and Bitcoin prices. We're gonna hear Elliott's take on the Peter Thiel paradox and his worthy adversary, and we're gonna try and do that in just thirty minutes. So let's get started.
• 5:08
  Okay. Story number one, The USDA announces sweeping reorganization
• 5:13
  to streamline
• 5:14
  operations and support farmers.
• 5:16
  Today, US secretary,
• 5:18
  Rollins unveiled a reorganization
• 5:20
  plan for the USDA,
• 5:22
  aiming to realign the department with its original mission of aiding American farming, ranching, and forestry.
• 5:28
  The plan addresses an 8% workforce growth and a 14.5%
• 5:32
  salary increase
• 5:34
  over four years without improved services
• 5:37
  alongside underutilized
• 5:38
  facilities in the nation's capital.
• 5:41
  So, this has been costing them billions of dollars, and they decided that what they're gonna do
• 5:46
  is actually relocate
• 5:48
  staff into five regional hubs, Raleigh, North Carolina, Kansas City, Missouri,
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  Indianapolis, Indiana, Fort Collins, Colorado, and Salt Lake City, Utah for better proximity to stakeholders
• 5:59
  and lowering living costs, eliminating bureaucracy, and consolidating
• 6:04
  functions.
• 6:04
  This means about 2,600
• 6:06
  employees will relocate with about 2,000 remaining in DC.
• 6:11
  And, it would it's worth noting over 15,000
• 6:14
  staff opted for voluntary
• 6:16
  deferred retirement. So this is going to be a major
• 6:20
  reshape of the USDA.
• 6:22
  How does, how does this sit with you, Elliot? Was this the right decision, the wrong decision? Where are they going?
• 6:28
  Unknown: Yeah. I think, you know, there's been
• 6:30
  there's actually been quite a bit of calling for this out here in rural America. You know? We want more representation
• 6:36
  outside of the Beltway, and I I do believe this is delivering that.
• 6:41
  I do think, you know, economically, this is better for taxpayers too. If if we can
• 6:47
  recruit better talent outside of DC, you know, the cost of living in DC is so high, and if we can bring
• 6:54
  these jobs out to the out to the ag world, we're gonna get better candidates to to better advocate and represent our industry. So I think that's a good thing. Plus the savings on on, like, $1,200,000,000
• 7:06
  to continue operate the the the infrastructure that they have there. We definitely need to look at doing something different.
• 7:12
  Unknown: Yeah. I mean, I could not agree more. This is the biggest thing that I wanted to see happen with the USDA. I used to live in Washington, DC. And when you would meet somebody that worked at the USDA,
• 7:22
  more often than not, they were not some farm kid that went to DC to go, you know, help out. It was actually somebody that was a bureaucrat that was doing their swing through USDA
• 7:31
  on their way to somewhere else. They had no real knowledge or deep interest in it, and the the size of the USDA is so mind blowing. You would drive on a road and go for blocks, and it would just be one giant building. So to break this up, put it into The States as something I've been calling for. I'm super stoked about it.
• 7:52
  Unknown: Yeah. I think it'll be good.
• 7:53
  Unknown: What do you think it does to policy? Do you think that this, undercuts,
• 7:58
  ag? I've heard people say, well, one of the benefits of having so many bureaucrats there is you've got so many people on Capitol Hill advocating for farmers.
• 8:06
  Unknown: Honestly, I think a lot of the policy is just so out of touch with what's really happening out here in rural America that,
• 8:13
  any anything's gonna be an improvement over what we've got.
• 8:17
  Unknown: Yeah. My biggest disappointment about this was I was looking for Kearny, Nebraska. And what I was trying to say is I wanna put it in a place where the only way you could work for the USDA is if you were willing to go hours away from a city. You had to drive there. There's not just an airport. You know, make it so the people that are there are there because they wanna be there, not because they're a part of the the larger bureaucratic system. But I'll take what I can get on this one. Yeah. They should have probably made it at least forty minutes from a Walmart.
• 8:46
  Story number two, Midwest corn hybrids hit by pollination failures from overly tight tassel wrap. Farmers in the Midwest are reporting startling pollination issues in certain corn hybrids,
• 8:59
  known as overly tight tassel wrap where the tassel sheds pollen while still encased in the flag leaf. If you're watching on the show, you can actually see we have a video here by Seth Filbert,
• 9:11
  who posted it on x showing that, yeah, he's got some corn and and sometimes half of the colonels are not pollinated, which means he could grow this giant beautiful crop of corn
• 9:22
  and, only be getting about half of the productivity about it. So it's been confirmed in four state. This problem is shocking growers,
• 9:30
  because and it happened as many people are saying as a result of weather. You had
• 9:35
  cold conditions.
• 9:36
  You had the smoke from Canada that came over, And so corn took a little longer to go. And then all of a sudden, you got really big heat units, lots of sunlight. And so the tassel came out before,
• 9:48
  the corn had silked. And so the the pollen dropped and there was nothing there. And so now you may have somebody that is growing corn that should be 230
• 9:58
  bushels,
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  and, they may end up, putting in an insurance claim because they're not even getting, 70%
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  of their harvest. So people are claiming right now that this is,
• 10:09
  an issue of,
• 10:11
  varieties that they chose. A lot of people are blaming Pioneer. What do you think, Eric? Is this just an anomaly that happens, or did people, you know, plant the wrong varieties?
• 10:21
  Unknown: Well, it it's Elliot Vance, but you're good. Elliot. Yeah.
• 10:24
  The,
• 10:25
  I talked to a couple of regional agronomists on this exact issue because I saw it on Twitter too. Do you know what states this is happening in?
• 10:32
  Unknown: Throughout the Missouri, I've heard, Missouri, Iowa, Illinois, I I think Indiana.
• 10:38
  Unknown: I've talked to some of these agronomists, you know, and there's 20 agronomists that are on their weekly calls. And, you know, this isn't really an issue that's on their radar, especially here in Iowa.
• 10:47
  I haven't seen any of it up here in Northeast Iowa. You know, the the plant physiology
• 10:52
  aspect of that that silking, you know, you you can grow two inches of silk a day
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  and,
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  you know, if it's it's not releasing pollen. And I know we had some rapid growth there with these heat units that that that that last flag leaf that came out around that that tassel,
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  you know, it grew so fast that it it was you know, we had a lot of white
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  leaves coming up because they just they couldn't get enough chlorophyll on them fast enough to really function like they were supposed to. So maybe some of that was happening when
• 11:21
  when,
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  when they're supposed to be dropping their anthers on those silks early. But,
• 11:26
  some of the conversations I have had, you know, they had some issues in Nebraska last year where
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  the the first silks that come out are the ones at the base of the butt of the ear. So
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  that late anthers dropping,
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  they had barren kernels at the base of those ears. Those end up being some of the highest yielding hybrids that year. So
• 11:49
  I don't know that this this might be
• 11:52
  pretty specific to small to certain areas, but it's not something I don't think we're experiencing here in Iowa. At least, I haven't heard any problems up here with it. But, if people wanna check this, you know, if you can gently shuck that ear back and then
• 12:07
  gently shake that ear after you have it husked, the silks that fall off are are the ones that are already pollinated.
• 12:15
  And it's not uncommon to have, you know, 10% of your silks not pollinate.
• 12:20
  Unknown: You know, I was meeting yesterday with a group of farmers, and they were like, this is just something that happens. It's not something you can control for. X was a buzz,
• 12:28
  you know, saying, no. It's these hybrids, and, oh, look at these idiots. They should have at least planted multiple types of hybrids so that way you have the the tassel coming out at the different time as the silks. And that way, if it doesn't pollinate it, sounds to me like, one, you don't think this is that big of a deal, and two, just kinda something that happens.
• 12:45
  Unknown: And we've been splitting our planner for years around here to try to, you know, guarantee against or have some type of insurance against those type of events too where, you know, you put one hybrid in one half of the planner and another hybrid in the other and try to try to widen your window of pollination.
• 13:01
  Unknown: Well, it's gotta be a rough thing if you're watching, you know, just the most beautiful lush green corn popping up, and then you open up those, those corn crops and and then just the husk shows there's nothing underneath it. That's gotta be pretty tough.
• 13:15
  Unknown: It'd be tough. I I I really feel for those guys, and I hopefully, it's not as bad as it as it looks on Twitter, and it's and it's regionalized. But,
• 13:24
  I'll definitely be following more about it.
• 13:27
  Unknown: Okay. Story number three. This was sent to me by a, a farmer that was hopping mad that this was going on. The EPA opens public comment on dicamba reregistration
• 13:37
  for soybeans and cotton.
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  On July 24, the EPA opened a thirty day public comment period,
• 13:44
  ending in August for proposed dicamba registration
• 13:47
  for over the top use of dicamba tolerant soybeans and cotton
• 13:51
  based on applications from Bayer, BASF, and Syngenta.
• 13:55
  This follows a 2024
• 13:56
  federal court ruling that vacated prior registrations over procedural violations.
• 14:02
  Farmers,
• 14:03
  after the the federal court vacated the registration said you could use the existing dicamba stocks under the EPA,
• 14:11
  and, until the a specific cutoff date in in 2024,
• 14:15
  and new sales and distribution were re restricted. So people had basically stopped using them, during the 2025.
• 14:23
  However, now with these new comment periods, they are hoping to bring Dicamba back.
• 14:28
  What they're trying to do is to ask farmers, hey. How do you think the new mitigation efforts that we're putting out there, including,
• 14:36
  the,
• 14:37
  point five pounds per acid,
• 14:40
  equivalent,
• 14:41
  there's, no aerial applications, 240
• 14:44
  foot downwind buffers,
• 14:46
  no use above 95 degrees, and, runoff controls.
• 14:50
  And all of this is being done because people farmers are saying,
• 14:53
  look. If I don't have dicamba tolerant soybeans,
• 14:57
  sometimes that stuff lifts off the field and comes over and, when my neighbors use dicamba and hurts me. So he the farmer that sent it to me seemed to think this was a terrible idea.
• 15:08
  What do you think? Is this a necessary herbicide we've gotta have out there in order to be able to grow soybeans and corn? Or is this,
• 15:15
  you know,
• 15:16
  corporations pushing a crop protection tool that is not needed?
• 15:22
  Unknown: Honestly,
• 15:23
  I don't know.
• 15:25
  What choices
• 15:26
  I always want more choices, I guess. I think most farmers do. And I I really I spent a lot of time in the South. I used to live in Georgia and, feel for the guys down there. I mean, to kill Palmer Amaranth,
• 15:37
  you need you need more than just Roundup.
• 15:40
  And,
• 15:41
  I think this is a tool for them. Yeah. I get it. You know?
• 15:45
  You can have cupping. You can have injury on other soybeans, other
• 15:49
  other technology packages.
• 15:51
  Pecans can be affected by it. Other specialty crops have a really tough time with it, but,
• 15:57
  Dicamba is a product that's been used for a long time.
• 16:00
  And,
• 16:01
  I think just,
• 16:02
  perhaps, follow labels and and work around with these restrictions. But,
• 16:07
  I I think you want more options. I don't think you want less options.
• 16:11
  Unknown: Yeah. I mean, to me, what what I see is
• 16:13
  the reason they're you going back to dicamba is because glyphosate got sued to oblivion. And if you can sue glyphosate Roundup,
• 16:22
  to the point where it's costing billions of dollars, what seed company or what chemistry company is gonna come out with a new product? They've gotta go all the way through the regulations.
• 16:31
  And then on top of that, even if it has the safety profile of something like glyphosate,
• 16:35
  it can still be sued. So these chemical companies are going back to their old, products. They're not doing new innovation because it's too expensive and too dangerous.
• 16:44
  Unknown: And Dicamba had drawbacks. We haven't been innovating chemistry for decades now. I mean, the
• 16:51
  it the consolidation with inside that that industry, I think, has hampered
• 16:56
  advancement. You know? I really do believe, you know, the next
• 16:59
  evolution in crop protection is probably gonna be like an RNA type technology.
• 17:04
  I don't think chemistry and sodium salts and, you know, that's not the future. The future is probably gonna be RNA. They won't I don't think anybody wants to spend money continuing to develop chemistry knowing that there's a new technology on the floor coming up right over the horizon.
• 17:19
  Unknown: I don't know. I mean, I think chemistry has a long way to go. I I agree with you. There hasn't been innovation in a long time, but I think that's been in part from consolidation and in part from the enormity of the EPA and the USDA and the inability to get those things through. You think it's got a long way to go. Where's it gonna go? What's next?
• 17:39
  I mean, I I think that to say that we are not going to innovate in the field of chemistry would be rather arrogant. Right? Like, we have got to I'm I'm certain
• 17:47
  that we will be able to find chemistries
• 17:50
  that will be able to fight back on on,
• 17:53
  like, weeds and insects.
• 17:55
  Unknown: Are you familiar with how the RNA technology platform would work?
• 17:59
  Unknown: No. But, I mean, I I would say they'll probably both be specifically target, you know,
• 18:05
  Unknown: pests based on genomes.
• 18:08
  And that's gonna be the much easier way to to manage pests is and I just think chemistry and, you know, chemical
• 18:16
  analysis is it's it's a complicated thing. It's tough.
• 18:21
  I do think probably the future is gonna is gonna be genetic.
• 18:25
  Unknown: Alright. Well, you had mentioned about fertilizer prices. This is something I had heard people talking about. What what's the big news that you're thinking about these days?
• 18:34
  Unknown: So, you know, I was out in DC last week with corn congress and, you know, us here in Rumblings that, you know, there hasn't been a single,
• 18:43
  shipment of phosphate from Morocco sent to The United States and these countervailing duties.
• 18:49
  You know, they're really crippling
• 18:51
  our our farming economy. And I I do think that we need a call to action to to get these countervailing duties lifted.
• 18:58
  When you say duties, you you're talking about the tariffs that Trump put on? So it's not really a tariff, and Trump technically didn't put them on. I know Biden put them on, but Trump won is kinda when they first came about.
• 19:09
  But, you know,
• 19:11
  there's been a lobby from the manufacturers
• 19:14
  of you know, we have a very consolidated you got Nutrien
• 19:18
  with with potash, and you got Mosaic with phosphate. I mean, there's really no competition in those two spaces.
• 19:25
  And, you know, their argument was you know, their lobby was that they they weren't gonna be profitable if they didn't get these countervailing duties on these foreign countries. Well, they got their countervailing do countervailing duties, and now they're showing record profits.
• 19:38
  Do we really need countervailing duties on this stuff? I think not. And I think the American farmer and the struggle that we're experiencing,
• 19:47
  I don't think the answer is print more money and write farmers checks. Let's fix the system.
• 19:53
  Unknown: Yeah. I I actually had a little trouble finding very much about this story. I was able to find some stuff about urea and how Russia is not really excited to be, exporting that to The United States.
• 20:04
  But you're among that you I've heard people talking about this story, but it doesn't seem to be being reported about very much. Why do you think that is? I think because
• 20:13
  Unknown: who are you gonna complain to? Are you gonna take your business somewhere else?
• 20:17
  You know, your your hands are tied. You got you know, these companies are providing 80% of the market
• 20:24
  with these products, and they've gotten so vertically integrated
• 20:27
  that there's no longer any incentive to inventory product in this country.
• 20:31
  You know? It's just like our our grain commodities, we're incentivized
• 20:36
  to to produce as much as we can and inventory as much as we can so that we can provide to the market
• 20:41
  as much product as we can so that those that are buying the product
• 20:45
  can get it at the cheapest price.
• 20:47
  And the complete opposite has happened with fertilizer.
• 20:51
  We have no inventory in this country anymore because
• 20:54
  as we wait to make decisions on on
• 20:58
  crop plans for a year or two out,
• 21:01
  we we hold we sit on our hands when the prices are too high to make decisions on buying these inputs. Well, when it comes around that we can make these decisions, those inputs are often higher than where they were when we were waiting to make those decisions because they've offshored the product as we were making those decisions. So the inventory is just not staying here, and there's no incentive for them to continue to build inventory.
• 21:22
  I'm an advocate for a strategic reserve on fertilizer in this country.
• 21:26
  We should have we should have inventory.
• 21:29
  Inventory, it has to be turned, and that would then keep price down. No different than our grain commodities.
• 21:34
  Unknown: Well, you are among, some of the very first people that have brought this to my attention. It is a story we will definitely track because,
• 21:41
  input prices going up at at a time when,
• 21:45
  sale prices of corn and beans is so low that it could it could really, really hurt some people going forward.
• 21:51
  All right. That is gonna do it for the stories this week. If you have any stories you think we should cover, you can always send them to me on x at Vance Crowe or, by email, vancelegacyinterviews
• 22:02
  dot com.
• 22:03
  Now moving on to the Bitcoin land price report.
• 22:07
  This week, as of press time, Bitcoin is sitting at 119,000
• 22:11
  per Bitcoin holding steady, just, off slightly less than 1% from last week.
• 22:16
  So now is when I'm gonna ask Elliot, what county do you live in, and how much does an acre of high quality farmland cost there?
• 22:25
  Unknown: Buchanan County is my home county, and
• 22:30
  what do we say? 16,000,
• 22:32
  probably the
• 22:34
  the price
• 22:35
  on land, 18,000.
• 22:38
  Unknown: Yeah. You gave kind of, like, a a pretty large spread somewhere between 18. Yeah. Call it 18 for an average. Yeah.
• 22:44
  Alright.
• 22:46
  So, by today's prices, that would mean one acre of land cost 0.15
• 22:51
  Bitcoin, or 1 Bitcoin would buy you 6.6
• 22:55
  acres of high quality farmland in,
• 22:59
  would you say you were,
• 23:00
  Buchanan County? Buchanan.
• 23:02
  Buchanan County. How does, how does that sit with you? An acre of land,
• 23:07
  for 0.15
• 23:09
  Bitcoin.
• 23:11
  Unknown: I don't know.
• 23:12
  I ain't got no Bitcoin, so if you'll find a more land with it. But,
• 23:17
  I I do think it's a fascinating topic, and,
• 23:21
  the the potential with this Bitcoin thing and,
• 23:24
  trying to curb inflation, I I do think it's it's a, a tool that we really should be trying to explore
• 23:31
  as as something that can
• 23:32
  give future generations an opportunity in agriculture.
• 23:36
  Unknown: Is Bitcoin something that people in your tribe are talking about? Is that something they care about?
• 23:42
  Unknown: Not really. I mean, I guess
• 23:45
  everything's about paying debt down, it seems like. So
• 23:47
  if you got debt, and then I know you and I have had a little bit of conversation about this. You know? The Bitcoin thing, would it have got me the opportunity where I am today? You know? I couldn't leverage Bitcoin
• 23:57
  years I couldn't leverage debt to acquire Bitcoin, but the system has allowed me to buy millions of dollars of farmland on debt, and I've seen that appreciate over the years. So
• 24:08
  I'm probably in a better position today
• 24:11
  from the way the system was set up to own the land and, you know, I can
• 24:16
  have my kids run through the sprinkler on the land. I can't have them do that on a Bitcoin.
• 24:22
  And I, I I do struggle a little bit with with wanting to convert my assets to Bitcoin.
• 24:28
  Unknown: Yeah. I mean, I can appreciate that. I think there's going to be,
• 24:31
  a merger at some point between Bitcoin and agriculture because
• 24:36
  right now, last week, Fannie and Freddie Mac were ordered by the the federal government to accept Bitcoin as collateral. Banks are now able to hold it either as collateral or on
• 24:46
  their balance sheet for, treasury assets. And so as this happens more and more, I think there's gonna be people that come along and say,
• 24:54
  hey. I've I've built up this treasure chest of Bitcoin, and I'd like to use that as collateral for land. And I think, ultimately,
• 25:02
  it will be an easier way to collateralize it than it would be even if you had a a small herd of cattle. Because if you have that small herd of cattle and it doesn't work out and the bank has to take it back, they gotta go collect those cattle. They gotta sell them. They gotta get rid of them. Whereas the Bitcoin, you could liquidate it in an instant and get your, loan paid off. So I think Bitcoin is going to play a very big part in, ag lending in the future.
• 25:24
  Unknown: Yeah.
• 25:25
  You might be right. I don't know. We'll see. Time will tell.
• 25:30
  Unknown: Alright. Now moving on to the Peter Thiel paradox. Elliot, what is one thing that you believe that almost nobody in your tribe agrees with you on?
• 25:38
  Unknown: I'd probably say it comes back to property taxes. You know, they're just, we continue to protect the incumbents in agriculture
• 25:44
  and
• 25:45
  stave off entrants from coming into it.
• 25:49
  And,
• 25:50
  you know, I've got some commercial property, and for every $10,000
• 25:53
  in value I pay on my commercial property, I pay $300 a year in taxes. And on my on my AgLand, you know, for every $10,000
• 26:01
  in value, I'm paying about 30. And so I just I really go back and look at, you know, the reason that we've got our rollbacks and
• 26:08
  and,
• 26:10
  property tax set up the way we do is to incentivize,
• 26:14
  rural rural development and people living on this land. And I think, you know, today's
• 26:20
  today's
• 26:21
  rural economy
• 26:22
  just doesn't support that type of a,
• 26:25
  a tax program. So, honestly, I I think, you know, there should be a different tax program for,
• 26:32
  those that are living off this land. So for exist example, like a,
• 26:37
  homestead exemption. If you're living here and working off this land, there should be a different tax rate for those that are living and working on this land than it is for the ones that are just holding this land as a,
• 26:50
  a tenant income source as an investment.
• 26:53
  Unknown: Well, it was you that told me that there's actually been a a radical,
• 26:58
  property tax or no. I'm sorry. Income tax change, for land. Tell me a little bit about that.
• 27:04
  Unknown: Yeah. So in Iowa, they passed a law here a couple years ago that, if you're a retiring farmer
• 27:10
  and,
• 27:11
  you've rented that land out after farming it for ten years or more, you could get your income
• 27:16
  tax free on that.
• 27:18
  And, I think that's a major deterrence from transitioning
• 27:22
  or turning land over to the next operator.
• 27:25
  I think it it incentivizes people to just hold on to that land, and I don't think that's good for for the next generation in in ag.
• 27:33
  Unknown: Yeah. I mean, I personally on that one, like, I'm all for getting rid of as many taxes as you can. But if everybody else is paying taxes and you aren't on owning that land, it means, like, you now have created a deep, deep incentive never to pass that on. And so exactly like you said, the incumbents
• 27:50
  win again.
• 27:51
  Unknown: And so, you know,
• 27:52
  the Peter Till paradox is that, you know, these are it's I feel like I'm the only guy in the room a lot of times when I when I question why things are the way they are and that we should change it because most of the incumbents, they don't wanna see any change.
• 28:06
  Unknown: Yeah. I tell you what. I'm gonna give you a flat five on the scale because I completely agree with you that, the property taxes should not be set up this way. I've and I feel like people like Ron DeSantis are setting up to to go that way. But I also know that if you're at Iowa Corn Growers, this is not something that they agree with you on, and they probably really do,
• 28:27
  disagree pretty strong with you on.
• 28:30
  Alright. Now we're gonna I see it. We're gonna move on to the worthy adversary. Who is one person that you respect
• 28:38
  but strongly disagree with?
• 28:40
  Unknown: Sure. I I've gotta go with, Louis Dunbar, my co host, Rush Hour Egg. I mean,
• 28:46
  he's kind of an old bull and I'm a young bull, so we're definitely
• 28:49
  at odds with each other a lot of the times. But, I really enjoy
• 28:53
  the conversations that we're able to have and,
• 28:56
  the opportunities that you provided me to to kinda get a lot of these messages out there and, you know, how that we that we need to make some big changes for agriculture in the future. Tell me about some of his positions that you strongly disagree with.
• 29:09
  I guess that one, that proper that income tax thing is probably one of the things that we disagree on.
• 29:15
  I'm trying to think what some of the other ones are that are
• 29:22
  the,
• 29:23
  we've got different positions on, you know, how this land should transition
• 29:27
  and,
• 29:28
  solar farms, pipeline,
• 29:34
  a lot of things that are, you know, really on the cusp and cutting edge of, you know, AI and autonomy in the future. You know, it's just we totally come from different generations on that and different, mindsets on on what the potential for the future is.
• 29:47
  Unknown: Well, this has been a good time, Elliot. So if people wanted to know more about,
• 29:53
  rush hour ag or other things that you're working on, where would they go?
• 29:57
  Unknown: Yeah. YouTube, Spotify,
• 29:59
  Apple Podcasts.
• 30:01
  Unknown: What what is Rush Hour Ag? Rush Hour Ag is a,
• 30:04
  Unknown: we're really focused on, like, policy ag policy.
• 30:08
  And it's more focused rurally, but we're also talking nationally too. And, we've got really good guests on every week
• 30:14
  from all over the country and all many different sectors of agriculture.
• 30:20
  We've interviewed
• 30:21
  several state senators,
• 30:24
  lobbyists,
• 30:25
  different group people from different associations,
• 30:27
  trade groups,
• 30:30
  also
• 30:31
  people from,
• 30:33
  inside the industry, like your chem your chemical and industry also or your chemistry industry and fertilizer. So it we get a get around the horn pretty good on on, different topics.
• 30:45
  And if people wanted to reach out, make a connection with you, where would you direct them? Yeah. Probably Twitter. I'm trying to get more involved on Twitter. That was something I really had to challenge myself to do, but,
• 30:56
  I think that's probably one of the the better places to to catch me on nowadays.
• 31:00
  Unknown: Well, Elliot, I wanna thank you for hopping on here and, and doing this.
• 31:05
  I know we found a new time, and you were the first person in this new 04:00 time. So thanks for coming on, Elliot. Great. Thanks for the opportunity, man.
• 31:13
  Alright. If you have been listening to the podcast,
• 31:15
  thank you for joining us at this new 4PM time. This is gonna enable me to, get home and help with the kids. Now that we've got, a little one, I I need to be back there and helping my wife so she doesn't go crazy.
• 31:28
  If you are interested in having me sit down with one of your loved ones to record them telling their life story,
• 31:35
  don't hesitate. Don't put it off. In fact, just this week, we are editing the interview that, I did with my own parents.
• 31:42
  And I can tell you that I am so excited to share this with my siblings.
• 31:46
  We're all gonna get to sit around with my parents,
• 31:49
  have them,
• 31:50
  be able to tell their story without being interrupted, without having the chaos of the holidays take away from it, And we'll be able to pause it and ask my dad more questions. We'll be able to laugh together. We're all going to get to share in this experience.
• 32:03
  And I have heard that from so many clients
• 32:06
  that this is one of the great experiences
• 32:08
  of their family, that they've gotten to watch these interviews together. So if you're interested in having me interview your parents, go to legacyinterviews.com.
• 32:17
  Also, if you are interested in Bitcoin,
• 32:20
  use the, link in the show notes to purchase your,
• 32:24
  Bitcoin on the exchange river..com.
• 32:27
  They are an affiliate of the show. And when you buy Bitcoin on river.com,
• 32:31
  it also supports the show. And it is the exchange that I use. And actually almost everybody that I know uses and it's because it works great in The United States.
• 32:41
  And, we're really,
• 32:42
  glad to work with them. Alright. That is going to do it for this week's show. Thank you so much for coming on, and as always,
• 32:50
  feel free to disagree.