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Unless they closed down because they ran out of cars, I'm not sure what point you're attempting to make...
Used car lots don't run out of cars....among other places, they buy and sell their cars at dealer auctions so, they can always get cars to sell.
I wasn't attempting to make a specific point, if you'll notice I quoted GreenGene and was just commenting on something he had said. Is that alright with you?
Actually no, not where I live in Phoenix, AZ....I was just noticing that yesterday. Several of the used car lots have gone out of buiness here at the north end of the city and many of the dealerships that have used lots as well have closed down. I don't know if that's just because of downsizing from lay-offs or what.
Yeah, I don't doubt it. It could be that when people stopped buying new cars, they also eased off buying used cars ... I know a lot of new car dealerships were shut down and/or went out of business, and with them went their used car lots, if they had them. But I would have thought those used cars would have made their way to independent used car lots.
let's face it, cash for clunkers first and foremost helps prop up the banks. it gives them new interest payments for their balance sheets. it helps wall street because foreign car stocks went up on the good sales reports during the bailout, even though GM sales were down 18% for august. some of the people who got the new cars might have bought new cars anyhow, but we will never know because, once again, taxpayer money is being diverted from the taxpayers to fund special interests.
i can guarantee you that the senate will add 2 more billion dollars (or more) of taxpayer money to this program because they only look at short term prop-ups and never long range for the economy.
The Cash for Clunkers program was designed as a rebate for turning in cars and purchasing a new one. Essentially, it returned taxpayer money to the taxpayers as an incentive. By Wednesday, 22,782 vehicles had been purchased and $96 million had been spent, and the program was out of money in days. Meanwhile, the spending from the stimulus package is slowly making its way throuugh the red tape and the vast majority of it has not been spent and will not be spent until 2010 and 2011.
Some car dealerships are now in a position of not knowing whether or not deals they made will be reimbursed. Some have stated that they have huge sums of money now at risk and have stopped with the program. Should they not get full reimbursement, they have lost money and now have the trade-ins that are wothless because they had to be destroyed. Congress must vote to see if they can get enough money to reimburse these dealers because they had not planned for this and there was no effective way of tracking the money and letting dealers know if the money was still there for the program.
Does this offer support for the position that the best way to stimulate the economy would be to give the money back to the taxpayers versus running it through the government process?
Does it demonstrate that the government's ability to run programs effectively is poor and that there are unintended consequences?
Discuss...
Yes. It is interesting that a 2 billion dollar program has done alot more than a couple of 750 billion dollar programs. I don't think the socialists will learn, as the concept that taxes are not the money of the government, but the people. Tax cuts and incentives rev up economies. Socialist programs kill the economy.
Tommy, cash for clunkers that is doing so much good is taking funds from those who can affored to pay more and giving it to those that can use it, just as food stamps bring in 1.57 for every 1$ spent by the governemnt. Tommy your tin foil hat is getting thin, you need to reline to keep out those radio waves and voices in your head.
I know a couple of people who have brought cars under this program, none of them have been American cars. I hear all these stories on the news about the companies bringing back that workers; they do realize that this was just a temporary rebate, right?
Overall I think cash for clunkers was a fail.
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