I’ve recently read about a crazy new government stimulus program that is offering good old folks like you and me something like $4500 for any old, piece of junk car, if we buy a new one. Now I know that there are some rules and regulations about the gas mileage of the old and new vehicles (new one must get better mileage and such) but does anyone understand this program?
It seems to me like if you drive an old clunker, you probably put pretty little value on the “looks” of your vehicle. And I’m guessing that you probably HATE the thought of spending a years salary on buying a new one when your old one is serving you just fine and is allowing you to keep putting food on the table.
I could be missing something, but WHO CAN AFFORD a new car at today’s inflated prices, without job security, with the value of your home in the tanks, with taxes going up, and with your investments a fraction of their former selves. Not to mention that wages are decreasing across the country and millions of people who do have jobs are having to take paycuts and are under employed.
Is it stupid to think that a better plan may have been to incentivize WEALTHY AMERICANS to start buying more and newer cars. They actually have the cash to do it…and they can give their old Cadillacs to their grand kids or something like that. Give the rich people a tax break for once and see how they open up their pocketbooks and jump start consumer spending.
Trickle down baby, trickle down!