On May 6, 12:29*pm, F. George McDuffee gmcduf...@mcduffee-
associates.us wrote:
On Tue, 5 May 2009 19:33:46 -0700 (PDT), Too_Many_Tools



wrote:
What is your opinion of this "cash for clunker" approach?

TMT

Obama, lawmakers agree on "cash-for-clunkers" bill
Tue May 5, 3:49 pm ET

WASHINGTON (Reuters) =96 President Barack Obama and Democratic lawmakers
reached agreement on Tuesday on a legislative proposal designed to
stimulate U.S. auto sales, which have fallen to near 30-year lows.

The one-year plan crafted by members of the U.S. House of
Representatives would offer vouchers worth up to $4,500 for owners to
replace their less fuel efficient vehicles for models that get better
gas mileage.

snip
--------
More "free market" in action?

Very much akin to giving low income people cheap cell phones so
they can order pizza and chinese as a cure for hunger.

If everyone makes what the Representatives (c. 175k$/year) and
their staffs make , this *MAY* be a logical approach.http://www.legistorm..com/member_of_.../salaries.html

The truth is that most people make no where near that much money,
and a "beater" is all they can afford (and in truth all they
need). *In most states an older car pays much less in taxes and
license, and has lower insurance rates. *The 4,500$ will
evaporate with the sales tax, property tax, license, insurance,
etc. leaving the "sucker" with sky high long-term [60 moth?] car
payments [unless these too are subsidized]

Note that legislatively getting rid of existing cars to force
their replacement [like Japan] has been a Detroit "wet dream" for
decades. *This was attempted during the 70s oil crunch in
California and then again in the late 90s under the disguise of
"environmental protection" and safety.

Unka' George [George McDuffee]
-------------------------------------------
He that will not apply new remedies,
must expect new evils:
for Time is the greatest innovator: and
if Time, of course, alter things to the worse,
and wisdom and counsel shall not alter them to the better,
what shall be the end?

Francis Bacon (1561-1626), English philosopher, essayist, statesman.
Essays, "Of Innovations" (1597-1625).

I agree.

It is simply corporate welfare for the car companies with the buyer
being saddled with all the downside.

Now if the $4500 went towards having me buying an electric vehicle
with comparable performance to my current fleet and weaning the
country off oil I might bite.

But then I have always been a sucker for doing things that make
America a better country.

TMT