Cash for Clunkers Still Raising Eyebrows
Auto industry website www.edmonds.com released results of a study it conducted on the C4C program. What they found was that of the 690,000 cars sold under the program, 565,000 were cars that the owners intended to replace without the C4C program sometime during the second half of 2009. That means that C4C only generated 125,000 new car sales that wouldn’t have occurred without the incentive. Therefore, if the purpose of the program was to generate new car sales, the $3 billion taxpayer subsidy cost you and your neighbors a whopping $22,080 per marginal new car sold.
How does it feel to look next door and know that your neighbor took $4,000 from you to buy his new car? This didn’t help business and didn’t help the country. Showrooms are now devoid of customers, repairable vehicles are destroyed, and businesses that repair vehicles lost 690,000 potential customers. If this is stimulus, I need a strong drink!
November 28th, 2009 at 6:24 am
Hello, I have just found your site whilst I’m searching around the Internet as I’m looking for some material on engine lifts!. It’s a good blog so I bookmarked you and I will revisit another day to enjoy a proper read when I’m more free.
December 14th, 2009 at 12:15 pm
I just have to say this was potentially one of the most intelligent blurbs I have view on the topic so far. I don’t have any idea where you gather up all of your data but keep it coming! I am gunna send some people over here to read this. Amazing, just plain awesome. I am have just started getting into crafting articles myself, nothing remotely close to your writing potential (ha!) but I’d love for you to have a look at my stuff someday! bowflex