It's like my grandfather always said. You want to know what the hell is going on? FOLLOW THE MONEY>.................

Cash in on the 'clunker' bill
The misguided 'cash for clunkers' plan is little more than a taxpayer-financed rebate program. Among the biggest winners: Honda.
The federal "cash for clunkers" program, aimed at reviving auto sales while helping the environment, looks on the surface like a sweet deal for American consumers, the ozone layer and struggling U.S. vehicle makers.
But the most important impacts of this cynical middle-class bailout might be on the broad economy, Japanese automakers and Obama allies' political fortunes. That's because of the clever timing of the flow of taxpayer money proposed in the legislation, the program's fiscal financing and the types of vehicles eligible to be purchased.
The program, which Congress approved Thursday, would provide vouchers of $3,500 to $4,500 to Americans willing to trade in their old gas-guzzling vehicles as part of transactions for new vehicles that consume gasoline at slightly less fearsome rates.
Socialized car buying
It's sort of like a store advertising a 15%-off sale, then billing the customer for the cost of the discount at the cash register. It sounds like a great deal until you realize the money doesn't come from outer space. It comes from taxes. It's like socialized medicine, but with mudflaps.
Just as with the government mortgage plan that provides people who made the worst home loan choices the most money, the program's incentives would be skewed to favor the people who had been the most irresponsible. People driving the gas-suckingest vehicles would get the biggest vouchers. If you've been smokin' up the neighborhood with a 15-year-old rusted-out pickup that gets 10 mpg and is worth $500 on the private market, your fellow taxpayers would give you $4,500 for it so long as you promised to buy a new truck.
http://articles.moneycentral.msn.com...nker-bill.aspx

__________________

You might be a liberal if................You think that consenting adults can engage freely in every activity except capitalism.
You think the answer to ANY crime, infraction, or injustice is counseling.
You use the words "right wing extremist" at least four times in any given day.
You live in constant fear that someone, somewhere, is making a profit.

what amazes me to no end about this billion dollar boondoggle is that if someone is driving a junker that's worth less than $4500, they probably can't afford the payments on a new car unless it's a stripped Hyundai or Kia.

Mebbe will help the car industry...

'Cash for clunkers' coming soon
June 19, 2009: Congress approves a measure to subsidize car purchases - consumers can get as much as $4,500 to trade in old cars. Vehicles bought after July 1 eligible.

__________________
Walt's Law - Computers enable change to happen at an ever accelerating pace until, at some point, the rate of change cannot be tolerated and systemic breakdown occurs.

not always. that 26 year old GMC truck in my driveway (112,000 miles) was worth too little to let go of to buy a replacement

now it makes sense to go buy a good toyota truck and assist tedminator in turning the economy around

"Billion dollar boondoggle" has lost it's ominous negativity, brother. A billion is now like a million, what with congress and the president casually tossing around the trillion dollar word like it's lunch money.

Since this subsidy is using our tax dollars, is it too much to ask that it be targeted at, oh say, american owned car companies? Hyundai and Kia, Suzuki et al are not our problems.

A pet peeve of mine, I think our tax dollars should go to purchase american made goods and services only.

Are there any models of american cars that will fit the criteria?
What about the foreign based car companies that have assembly plants here?

__________________

You might be a liberal if................You think that consenting adults can engage freely in every activity except capitalism.
You think the answer to ANY crime, infraction, or injustice is counseling.
You use the words "right wing extremist" at least four times in any given day.
You live in constant fear that someone, somewhere, is making a profit.

Sure it would be great if it were to buy American only, but many here appear to be boycotting GM and Chrysler since the fed are helping them from going completely out of business.

Bottomline it's an incentive to spend to help the economy out of recession and people still feel the need to complain.

__________________

The criteria will cover any car that gets X amount of better mileage. I suppose you could theoretically trade your old junker mercedes in on a lexus and qualify.

The question is, will someone now driving a $4500 hoopty be able to cover a $300 dollar or more a month car note? Or will getting someone at that economic level into that kind of debt lead to lots of repos?

That's what often comes from easy credit and people buying things they can't otherwise afford or have the financial discipline to save for.

I just had a scary thought. The next bailout will be people who can't pay their car payment!

__________________

You might be a liberal if................You think that consenting adults can engage freely in every activity except capitalism.
You think the answer to ANY crime, infraction, or injustice is counseling.
You use the words "right wing extremist" at least four times in any given day.
You live in constant fear that someone, somewhere, is making a profit.

A legitimate concern. We've created an atmosphere of entitlement, to be free from the moral hazard of taking on debts you can't afford. Everyone and their dog now feel entitled to a bailout