Friday, July 31, 2009

US House of Reps debates "Cash For Clunkers" phase 2

AlphaNinja - As it says above, "Stocks and Free Markets." I don't aim to be poilitical unless the government takes it upon itself to make decisions for the rest of us...

Cash For Clunkers, also called CARS (Car Allowance Rebate System) might be the most outrageous use of taxpayer funds ever.

The most important detail:

-->>"Qualified consumers will receive a credit of $3,500 or $4,500 for an eligible trade-in toward the purchase or lease of an approved vehicle under CARS Program."

And then the incredible part. If you are buying a "category 2" truck, you bank $ for an increase of ONE mile-per-gallon.

Is it even good for the environment? NO WAY. We're subsidizing the environmentally "unfriendly" creation of a new automobile, instead of the purchase of a used one. All for an increase of one mile per gallon.

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