Thursday, August 6, 2009

Cash for Clunkers

So, there are recently a lot of articles about cash for clunkers, where the government is giving out up to $4,500 for a car that is bearly drivable. The first $1,000,000,000 budget for this program is almost used up. Now Congress is asking for another $2 billion to extend the program to Labor Day. The pull as I have heard is (1) to get the low MPG cars off the road, and (2) to jump start the auto industry by increasing their sales.

But the way I see it (personally), is that indirectly I am giving money ($4,500) to some "lucky winner" to buy a brand new car!! Don't get me wrong, I am a very "green" person and am definitely in agreement with getting some of these fuel inefficient cars off the road. But at $4,500 a pop?! out of the governments pockets (which may I remind you, is already in deep hole)?!!! The $1 billion only benefited about 250,000 individuals or families who purchased the cars. The $2 billion additional funding if passed, will also only benefit another lucky group of 500,000.

So, folks, help a Chinese-American understand this. How can our legislative branch of the government pass something that does not benefit the majority of the people of the USofA? How can the government spend money (potentially $3 billion - part of my hard earn money funded to the government through something called "Income Tax") on such a small group of people? The $4,500 became pure and simple "gains" on these people's "balance sheet". Where is my share of that? It's not like I didn't pay for my gas efficient car at full price before! So, are you saying that I should have kept driving my banged up car and continue to pump harmful gases into the environment, then one day the government will say "good job, you have passed the test of endurance", and for that, collect $4,500?! And last question, how can the government spend so much money that it does not have? Who is going to pay for it? Someone, somehow will have to, sooner or later. Money, I believe, doesn't grow on trees!!

12 comments:

  1. You're right...$$ doesn't grow on trees, but...like I said. It went through because we've got a Democrat president and you COMPLETELY underestimate how many low-income families would probably be all for this program, on the OFF chance that they will be one of the lucky few that gets the cash.

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  2. Our government is here to take care of the little guy. Who now has a large car payment on top of everything else. All the way around, I don't understand this program!

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  3. The answer to "who is going to pay for it?" is very close to home.

    The Chinese, who buy our debt.

    Chinese-American-ness indeed!!

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  4. well, money does grow on trees because it is made of paper! i'm very left-wing, but i'd rather see the money spent on green technology, greener fuels. i just gave up something better than a clunker - totally drives. i only got $75 for it. someone at a dealership (who offered $100 for my car, then rescinded) told me i should wait for this program. but it turned out it was much more economical to buy a nice, well-taken care of used car, even taking into account the $4500 break. and frankly, if i bought a new car it would be a new toyota, not an american car. not sure how much that would benefit our economy. the americans have to make better cars.

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  5. Not to bash our current president, but he got his head on backwards or something. Instead of giving that money to a few, he should put it towards making "Green" cars more affordable for everyone. Or purhaps the dealers should give people the value of the metal, wruber, and plastic for recycling their old car. Put it towards the purchase of a new or newer car. Yes, money is made from trees and the more government prints, the lower the value of the dollor goes. The ression isn't over people b/c we haven't hit bottom yet.

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  6. Who was the largest contributor to the Obama campaign? Auto Unions. What don't you understrand now?

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  7. I've already sounded off on the lunacy of this program. I don't think I can help you understand it since I don't understand it either. But, I don't think we are looking in the right places when we start blaming one party. They are both corrupt and cater only to their strongest and wealthiest constituencies. The problem is that our government is no longer set up to allow a self-thinking individual to lead.

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  8. Oh how I wish we had someone who actually understands how economies work in the White House!!! And how governments should work. Politicians shouldn't be running the government, that is clear!

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  9. I totally agree. Another thing that gets me is all the fuel that's now going to be used to deal with all of these newly trashed clunkers--how is that green?

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  10. I'm not sure you have to be Chinese-American to be confused by all this. Though I consider myself to be Chinese-American since my daughter is. ;) So maybe that's why I'm confused to. ;)

    Welcome to the blogosphere!

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  11. no answers here, but welcome to the blogging world!

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  12. Welcome Blogger, by the way the U.S. isn't the only place engaged in this policy. There are at least 10 other countries with a similar program.

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