Friday, October 30, 2009

Cash for Clunkers: $24,000/car boondoggle

This year, I'm making my Christmas list out to Obama. I need a new laptop, some windshield wiper blades, a pair of running shoes, and one knit cap. All together, I'm guessing my "wish list" would cost me north of $1K, south of $1,200.
With a few more incentive government programs like Cash for Clunkers, Obama could help me purchase my items for about $6,396. Spread over the taxpayers of the country, I could really make out like a bandit...until April 15th. Then I'll have to sell blood, plasma, and hair to cover it.

The Cash for Clunkers, that raving success of destroying perfectly good cars for cars people don't really want to buy, cost the American taxpayers $24,000 per purchased vehicle.

Government truly can work the miraculous. I can't imagine anyone else turning a $4,500 credit into a $24,000 debit.

American taxpayers paid a lot of cash for those clunkers: $24,000 for each new car sold, according to a study released Wednesday.

That’s a lot of money, especially when the so-called “cash for clunker” stimulus program offered only a maximum $4,500 in cash for each person who traded in an old gas-guzzler and bought a new car.

The government could have done almost as well by just giving away cars for free, instead of creating an elaborate incentive program, according to an analysis by the automotive information firm Edmunds.com in Santa Monica, Calif.
Next, they'll turn wine into toxic water.

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