"I think it's unfair to people who were already "doing the right thing" or wht ever you call it,"
"it kinda makes me mad I didn't get the $4500..."
"its also unfair too the tax payer that they have to pay for someone to get a new car."
"I'm kinda mad that if hey, they're giving out money why is it done so unfairly...."
This is just a flash in the pan money that will cost our grandchildren dearly.
"The principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."
The gimmick on this CfC program is that the dealers work off the window sticker price which gives them the maximum profit. I learned long ago that as a buyer you do your research and make YOUR OFFER based on the invoice price not the sticker. You do not automatically accept the dealers best offer.
Aside from this program, the goal of a dealer is to hit a "homerun" when it comes to your trade-in. That means to end up getting your trade for free.
Back in 99 my brother-in-law ordered a new GMC Yukon XL from a small dealer in North Carolina for $49.00 over invoice. The dealer made a nice profit with his dealer holdback check. Low overhead on his 50 year old dealership allowed him to do this deal. When you visit the multimillion dollar dealership, guess who is expected to pay for this operation????
Consider it another gift from your posterity...a generous one...an involuntary one.
The $1 billion for "cash for clunkers" was supposed to last four months, but apparently, it took only a week to exhaust the funds. So...they're still saying HR3200 (Obama"Care") is budget neutral...and I would believe them why???
How is it that these mathematically challenged parasites, who can't even get their own taxes straight, are running our country?
Cash for clunkers is being run by the same people that want to control your Health Care. So since 1 billion was not enough and program was almost scraped till the rushed 2 billion more into the pot.
Wait till they start spending the trillion or more on health care then tell you they need another trillion because it is working so good.
My suggestion if you own a V8 and plan on keeping it start buying parts now. And find a willing organ donor soon before you get ruled out of the system.
It's amazing to me how Omama's additional 2 billion dollar investment in jump starting the auto industry and the American economy is viewed so negatively.
2 billion dollars is the amount that the American taxpayer spent in Iraq every six days for 6 1/2 years. Obama just put a stop to that. Obama is saving America 2 billion dollars every six days by ending our wasted efforts in Iraq. Where's the love?
When Obama came into office six months ago the economy was in the tank with no light at the end of the tunnel. He made moves to stimulate the economy and the stock market and home values are on the rebound and every other economic indicator is going in the right direction. Stimulus money is now reaching communities for shovel ready projects that will stimulate the job market. At least 60 million going into the valley. Can the President get a table dance?
When did it become "Patriotic" to oppose the government doing things for the wellbeing of Americans?
Last I heard this cash for clunkers was all Obama and has nothing to do with GWB. In fact their has been a lot of all Obama and the price tag is sky high.
And using the phrase:
He made moves to stimulate the economy and the stock market and home values are on the rebound and every other economic indicator is going in the right direction. Stimulus money is now reaching communities for shovel ready projects that will stimulate the job market.
Just tells me you are so out of touch, time to pull the Kool Aid iv before it is to late. So if you want "change" change your data and find some real numbers.
andersonathan....Both my 401K account and my personal stock portfolio have gained about 20% since last quarter.
I live in a large metro area. Nine counties, 7.5 million people. The median sale price for homes has risen in all nine counties the last three months in a row.
Below is a link to an article published in the Vindy. I hope this data and real numbers help you out.
Search....You said where I live isn't necessarily representative of the rest of the country. Like I said, I live in a Metro Area of 7.5 million. It's not like I'm coming up with something obscure to make a point. How many people live in the valley, 300,000? And it's been depressed for decades. There is actually another world out there. I read on this board how people are lined up for a $7.00 an hour job. Why they just don't leave escapes me. Don't think what happens there happens everywhere.
Today I received a monthly news letter for my union which I haven't worked in the field for 15 years. I don't know exactly what they make on their check besides benefits but I know journeymen are over $40 an hour, foreman another 10%, general foreman another 20% and senior general foreman another 30%, all before the new contract they just signed. Below is an excerpt from the news letter.
"At the July membership meeting, the negotiation committee presented to the membership the terms of the new Master Labor Agreement for their consideration and ratification. After discussion, the new contract was ratified unanimously.WAGES: $11.25 per hour increase over a 3 year period ($3.75 a year for 3 years).PREMIUM PAY FOR ALLOY WELDERS: Manually tested alloy welders will receive a 3% increase to 8% above journeyman scale every day they are welding alloy pipe or using Diametric type industrial welding machine.The Negotiating Committee also recommended that this years raise be allocated with $1,25 per hour going directly on the check, $2.00 to pension, $.25 to Local Union Training and $.25 to dues for market recovery."
Like I said, there's another world out there.
Yes this is what you base recovery on. Unemployment is at a all time high and expected to go higher, people are spending less, small business are not hiring, So unless your a trade card carrying member and I am one also, or a white collar worker then I expect you might be on shaky ground. So paint a pretty picture if you want to. it is so fragile out their it is not funny. And yes the market will go up more and more trading going on. After all do you really think people are going to let the markets sit still. Scraping what they can out of a bad situation. So i will agree we are out of this when hard line employment drops and hiring begins and consumers start to spend.
Cash for clunkers is the topic, like i said a so so idea that now needs more as in billions to continue and is brought to you from the same people wanting to give you health care spending trillions. So remember two words: Inflation and interest rates.
andersonathan....It is so typical of people on this board to ask someone to back something up with facts or data. Then when you do they respond with speculation. Yes it says that but this is what it means or this is what will happen. I don't give opinions from some clowns web site or from Glenn Becks delusions,
My data is from the New York Stock Exchange, the real estate section of the San Francisco Chronicle and the monthly news letter from my union. Do me a favor, if you ask me for data and I supply it don't interpret it to suit your point of view. Either take it for face value, it says what it says, or provide data that proves what I supplied was wrong. Not some blog BS or Fix Noise opinion. Data from the same type sources I use.
The economy is either going up, going down or is flat. I'll stand by what I said in post #13.
The government has realized that people like handouts. People are not buying "extra" cars. This program does not increase the number of cars that Americans will own. What it does do is increase consumer debt, take used, functioning and affordable cars out of circulation that low income earners could have purchased. It is a handout that has increased the national debt. It is reducing the number of automobiles that would have needed to be purchased in the future at full price (ie, it will hurt future car sales). And only the dishonest government has the audacity to call it a success.
From the Cato Institute:
"This is not good for economic growth," said Dan Mitchell, a senior fellow in economics at the Cato Institute. "You're simply getting people to use existing income to spend on cars. Getting people to spend more of their money on cars mean they will have less money to spend on other things."
Economic growth, Mitchell argued, is not getting people to spend more money on products, it's getting them to have more income. Mitchell also believes the program is counterproductive for the auto industry down the road because the acceleration in car purchases will precede a "big downturn in the future."
"Giving someone a shot of heroin is not good for their long term health."
The program, Mitchell added, shows that the government is "incompetent."
I believe the program is a program to reduce our dependence on foreign oil. I believe it also a program to help car companies reduce their inventory. They all had inventory they didn't know what to do with.
When that inventory is reduced production will be stepped up to replace it. That puts auto workers to work. They spend money on goods and that inventory is reduced. Production for those goods picks up and people are put to work.
As far as what car companies are selling the most cars under this program, If the are made in America I don't care if they are Honda or whatever if it puts Americans to work.
Some people would make you believe that this program will cause the planets to collide, the sun to explode and civilization as we know it to cease to exist. I'm not buying that.
The "Repo Man" is coming. The only people that have a vehicle that is worth "clunking in", do not have enough money to pay for the cars. Sooner or later they will be backing up the tow trucks in driveways and the banks will be the owners of the new cars. The lower class and the lower middle class need to see some other way of a stimulus. Let's see through the smokescreen and give back to Americans real money that can be spent. Let's go Obama people voted for you to make change, not to pull the wool over our eyes with such a gimmick.
Damn straight this was a good program!!!
i really wonder about some of you. why would uou want a company to fail, that we as taxpayers own the majority? the feds have already given billions to gm and chrysler. it was our tax money. it's a done deal.
now i would hope that gm and chrysler become the most profitable companies in the world. be nice to get our money back with a profit
Cash for Clunkers = Japanese Economic Stimulus
The Department of Transportation reports that the ten leading trade-ins are all American branded cars while six of the top ten new cars purchased - and four of the top five - are foreign.
DOT reports that the following are the ten top trade-ins, all American:
Ten Top Trade-Ins Under Cash for Clunkers
1. Ford Explorer2. Ford F150 Pickup 2WD3. Jeep Grand Cherokee 4 WD4. Jeep Cherokee 4 WD5. Dodge Caravan/Grand Caravan6. Chevrolet Blazer 4 WD7. Ford Explorer 2 WD8. Ford F150 Pickup 4 WD9. Chevrolet C1500 Pickup 2 WD10. Ford Windstar FWD Van
And the top ten new car purchases, subsidized by the American taxpayer, are mainly foreign vehicles:
Top Ten New Car Purchases: Cash for Clunkers
1. Toyota Corolla2. Ford Focus FWD3. Honda Civic4. Toyota Prius5. Toyota Camry6. Ford Escape FWD7. Hyndai Elantra8. Dodge Caliber9. Honda Fit10. Chevrolet Cobalt
And you want the government to manage your healthcare?
This whole thing is a farce anyway. My husband and I were almost hustled by an Austintown dealer who informed us that they were not honoring the program temporarily (fraud!). Then, he tried to sell us a small 2003 Dodge Dakota for $12,000 with a $1,000 trade in. Now we are not doing it at all. Shame on them. I hope their Chevy dealership goes belly up!
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