To all you deranged idiots who think C-for-C's was a boost for the economy and worthwhile for taxpayers....you are deranged idiots!NEW YORK (CNNMoney.com) -- A total of 690,000 new vehicles were sold under the Cash for Clunkers program last summer, but only 125,000 of those were vehicles that would not have been sold anyway, according to an analysis released Wednesday by the automotive Web site Edmunds.com.
The Cash for Clunkers program gave car buyers rebates of up to $4,500 if they traded in less fuel-efficient vehicles for new vehicles that met certain fuel economy requirements. A total of $3 billion was allotted for those rebates.
The average rebate was $4,000. But the overwhelming majority of sales would have taken place anyway at some time in the last half of 2009, according to Edmunds.com. That means the government ended up spending about $24,000 each for those 125,000 additional vehicle sales.
As with all government programs, whose only purpose is to help get craven politicians re-elected, it ends up being a complete and utter disaster from every standpoint. The dealers didn't like it because the government didn't pay up on time and the taxpayers ended up paying 5 times as much for other peoples' cars than they should have.....that is if you stupidly believe that taxpayer money should have been used for this idiocy in the first place....which is shouldn't have. Brain-dead liberals just can't help but meddle in otherwise functioning markets in order to ingratiate themselves to dumb, democrat voters. Too bad the result is almost always to make things worse than if they had minded their own business.
No comments:
Post a Comment