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MarineReconDad

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Cash For Clunkers, A CLUNKER for the Poor Folk ?

Cash 4 Clunkers! Cute name! But, what is this waste of the taxpayers money really accomplishing?

The Democrats are always out to "Help" the poor folk! Can't afford a house get them one. Don't want health insurance, we'll give it to you anyway!

Can't afford a new car? We'll give you $4500 to buy a NEW car!

Sound familiar? It should. It is Freddie Mac and Fannie Mae all over again!

And how about helping the poor folk? Most people who drive an older car or truck do so because they can't afford the outrageous prices for a new one. And, they don't want a car payment every month!

So, now you bait these people into turning their old car with "FREE" money to buy a NEW one!

So now those poor folk who had NO car payment, now have a $400 or$500 car payment! You know that the dealers mark up whatever car they are buying to cover that! And if they buy a cheaper car they won't get the full$4500!(They don't tell you that!)

Than when you turn that car in they drop abrasives in the engine so they cannot be resold and must be scrapped! This reduces the used car market which is ALREADY driving up used car and truck prices making even those vehicles un-affordable to the " poor folk" Plus it reduces the replacement parts for older cars.

This is a systematic effort to eliminate any older vehicles and force people into public transportation. Which is ok if you live in the urban areas but not feasible if you liver in rural areas where there is no public transportation!

So who has this program helped? The UAW (maybe), the dealers(certainly) the environmentalists (definitely)!

But the "poor folk"? Maybe ,for three months until they are behind three payments, and those NEW cars get repossessed! I guess that is why the programs to "take the car back if you can't make your payments came about!"

The dealers have the government money AND their cars to resell again after 3 months! Sweet!

Yea,this program should go on FOREVER!


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I'm thinking about all those cars that are perfectly usable being scrapped. Talk about waste! Now the gov. has the public doing it!
Posted 2009-08-04T23:34:38Z
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I don't know the key to success, but the key to failure is trying to please everybody.

Did you really think that all sides would agree that CFC worked or didn't work? Here's what the bloggers are saying.
Posted 2009-08-05T11:24:54Z
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It's WORSE than that:

http://seekingalpha.com/instablog/337451-avery-goodman/20097-cash-for-clunkers-program-may-cost-45-354-per-vehicle

"Cash for Clunkers" Program May Cost $45,354 per vehicle 
Jul 31, 2009 02:05 am |

The "Cash for Clunkers" program has been a "great success", at least according to the government, and the auto industry.  Within days of its kickoff, all $1 billion allocated to the program has been used up by Americans who have eagerly lined up to trade their clunkers for new vehicles. 

Some refreshingly honest reporting has come from Edmunds.com, a car buying site that is telling the truth, in spite of benefiting from an increase in business and site traffic, due to the program.  According to Edmunds, about 200,000 old low mileage cars would normally traded in, every 3 months, in exchange for more efficient higher mileage cars, without this program. 

The highest rebate is $4,500, and the lowest is $3,500.  If everyone qualified for $4,500 per vehicle, about 222,000 vehicles would have just taken advantage of the government's money. At $3,500, 286,000 vehicles will have been sold.

I assume that, given all the raving, the government will eventually get around to assigning more money .  It will take at least 2 or 3 months for the legislation to work its way through Congress.  Meanwhile, if all buyers have qualified for the higher $4,500 rebate, the "cash for clunkers" program will mean a marginal increase in car sales of 22,000 this quarter. $1 billion divided by 22,000 means a net cost to the government of $45,354 per car.

If all buyers only qualify for the $3,500 rebate, it means a marginal increase in sales of about 86,000, or a net cost to the taxpayers of $11,628 per vehicle.  In all likelihood, however, there will probably be a mix of vehicles qualifying for various rebates between $3,500 and $4,500.  Based upon that assumption, Edmunds.com estimates that the average cost to the taxpayer will be about $20,000 per vehicle. 

Even most of the marginally extra sales really represent people who were going to buy a new car eventually anyway.  They are just buying a bit sooner than they expected.  Old clunkers don't last forever, and they are almost all eventually replaced. The government is shifting tomorrow's demand to today, stealing from tomorrow to pay for today, but at great cost to the taxpayer.

The "cash for clunkers" program is yet another boondoogle - an expensive waste of precious taxpayer dollars.  Government spending should be reigned in, in light of the multi-trillion dollar unsustainable deficits that this nation now faces.  However, if we must increase government spending, the money would be better spent on infrastructure and education improvements that might help bring jobs back to America, and encourage long term growth, rather than cosmetic improvements to the short term earnings of makers of high mileage automobiles, many of which are foreign companies..

This government is, unfortunately, a reflection of the current state of economic immaturity that prevails in America.  The vast majority of people, including most people in Congress, do not understand the forces that drive the real economy, and see only the short term view.  That is how they get manipulated into allowing the Federal Reserve to behave like a slush fund for big banks, passing programs like TARP into law, and enacting programs like "cash for clunkers" which all abuse the taxpayers.
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Gee, what brilliant ideas will Obummer COST US next?
Posted 2009-08-05T23:59:19Z
stevor was invited by Yedda to answer this question.

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Mat. 6:33 "Seek Ye First the Kingdom of God and All these things Shall Be Added to You!!!

BRAVO!!! A Perfect Explanation of an Obummer Plan in less than 1 typed Page!!! Not wishing U any "ILL", but U should work for the Govt. Printing Office....Sorry, after thinking about a second on it, U would have to get a "Frontal Labotemy" or "Deliberately Lie" to the People, so that won't work!!! Don't forget the "Provisions" to put Charities like "Junk for Jesus" out of business as well.   John
Posted 2009-08-06T00:32:59Z
Moosemose was invited by Yedda to answer this question.

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