We had a dairy farm and almost always made over $250,000 gross, but had expenses over 250K some years and lost money. An extra tax? My pay in 72 was $6,000 and my parents less than $10,000 same for many years after. In 78 I joined the military and went to officer school with a pay of $719 a month! I was simply rich!
Most dairy farms make more than 250K today but are actually losing money. One more year of losses (2 in a row) and milk will not be produced in the USA.