This is not fake news, but he will try to spin it that way I'm sure:
The number of family farms filing for Chapter 12 bankruptcy last year spiked 20 percent nationally, according to a study by the American Farm Bureau Federation. That’s the highest increase since 2010, the year after the Great Recession ended. In the Southeast, it swelled 48 percent from 2018.
The $87 billion agriculture industry plays a crucial rule in North Carolina’s economy, according to N.C. State University. It employs 17 percent of the state’s workforce. According to the Farm Bureau, there were 16 filings in North Carolina in 2019 — a 33 percent jump from 2018 — and 10 in South Carolina, more than three times higher than the 2018 total.
Funny thing, you hardly ever see one of these bankrupted farmers on the news, except maybe in some deep-dive documentary where the producers spend weeks tracking people down. It's actually not funny, because when they are finally forced to give up, the last thing they want to do is admit their failure to a large audience. It's a hard life, making one or two paydays a year cover all your costs and feed your family until the next harvest. The last thing they need is a toddler knocking over that fragile formula by disrupting their market. But by and large, farmers still support Trump, even though he has thrown them under the bus in favor of Big Ag numerous times:
In his first 100 days, the president proposed steep cuts to the US Department of Agriculture’s budget, which would impact technical assistance to farmers as well as funding to improve rural water systems, and, potentially, food assistance programs that serve low-income rural residents. His hardline immigration rhetoric and increased deportation actions have led to a farmworker shortage that has affected farms from California to Michigan. He threatened early on to walk away from the North American Free Trade Agreement, which American farmers like because it has expanded markets for their grains, meat, and dairy products. And although President Trump later committed to “renegotiate” the pact with Canada and Mexico, his blustering, bullying tactics (disconcerting even to his own negotiators) may blow up the deal anyway. Many farmers feel betrayed.
Things haven’t gotten better from there.
In October, the Trump USDA rolled back the Farmer Fair Practices Rules, which the previous administration put in place to give poultry and livestock farmers more power in marketing contracts with meat processing companies, and to make it easier for contract farmers to sue those companies. The rollback means that farmers lose their recently-gained protection from exploitation by the consolidated corporate giants who control and monopolize nearly every step of the meat and poultry production chain. The Farm Bureau approved.
And then there’s the Tax Cuts and Jobs Act recently passed by the president’s party in Congress and signed into law. Among the provisions pushed by the White House (and the Farm Bureau) was all-out repeal of the estate tax, which the president said would “protect millions of small businesses and the American farmer” from disaster. With the nonpartisan Tax Policy Center estimating that only about 80 small business and small farm estates nationwide would face any estate tax in 2017, PolitiFact labeled the president’s statement a “pants-on-fire” claim. (Ultimately, the bill doubled the existing estate tax exemption to $11 million per person.)
In the tax bill as a whole, some observers see more downsides than benefits for all but the richest farmers, and analysis by one national agricultural accounting firm indicates that the benefits to farmers will be temporary. Still, the Farm Bureau applauded the final bill, including its imaginary estate tax benefit for farmers.
And now you see why Republican operatives push so hard on issues like "Socialism" and abortion; to keep rural voters distracted with evil monsters that don't exist, so they're less likely to notice they're being sold out to the real monsters of economic slavery and penury.