Sorry. don't have a good example with math. I think the issue is that in the 70's the cut off was lower, below 13M. And stocks/bonds were also not doing as wel

Sorry. don't have a good example with math. I think the issue is that in the 70's the cut off was lower, below 13M. And stocks/bonds were also not doing as well so the concept of selling and investing and living off that wasn't possible. And possibly a lot of farmers had loans, large debt. I'd need to find all the pre-inflation 70's examples. I just remember at the time the farmers were kind of stuck in a catch-22. Probably does not apply to todays farmers. But you are correct, with your numbers. If the land really is worth that much, they could sell and re-invest.