Govt to suspend 'cash for clunkers'

[pico]

http://finance.yahoo.com/news/AP-sources-Govt-to-suspend-apf-3529110957.html?x=0&sec=topStories&pos=1&asset=&ccode=

program started last friday and they're gonna end it tonight.

brentcrude was spot on with this stupid program

[pavyracer]

They are suspending it because it is so successful not because it didn't work. They will approve more money and start it again.

[Slim]

The US dollar is going down.

[BGS 9.5]

I actually have some clients that would have benefitted from this, lol.

[losturmarbles]

not even brewster could spend 96 million 1000 million as fast as the US tax payers just did.

[yisman]

pretty dumb idea

[yisman]

funny thing is, Chrysler has been advertising it on the radio all day.

Pretty stupid to run ads about a suspended program.

[pico]

funny thing is, Chrysler has been advertising it on the radio all day.

Pretty stupid to run ads about a suspended program.

chrysler is also bankrupt. a broke company runs ad on a suspended promotion... i know where tsoporano is now

[pavyracer]

Actually is not suspended yet. They will suspend it tomorrow but today's ads were good. And suspend doesn't mean is cancelled or terminated. It's like a rain delay in a baseball game.

[nosniboR11]

pavy your so stupid I swear, its over, another democrat plan that has failed, but go ahead and stay on your knees , you idiot

[yisman]

Actually is not suspended yet. They will suspend it tomorrow but today's ads were good. And suspend doesn't mean is cancelled or terminated. It's like a rain delay in a baseball game.

either way, it's stupid to run ads for something that's getting suspended.

When someone goes to a Chrysler dealership tomorrow to ask for the promotion they'll get told to get bent.

[pavyracer]

Why has it failed dummy? Because the money run out from people using it? Doesn't that mean it succeeded? Now if noone bought a car and the money was not used it would have been a failure. Do you understand the meaning of suspended because the money was used up?

[RiverRaid]

Pavy is right it sounds like it worked way better than expected. I hope they bring it back because i might would take of advantage of it in the near future.

[ijustwant2bpaid]

i knew that 1 billion would go fast

[pavyracer]

They are suspending it because it is so successful not because it didn't work. They will approve more money and start it again.

http://news.yahoo.com/s/ap/20090731/...bmdyZXNzdHJ5aQ

[DwightShrute]

hurry hurry approve another 2 billion. hurry

[mathdotcom]

Just another way to pump money into carmakers' wallets.

I like pavy's argument though. If there was a government policy to collect a whole bunch of $100 bills and burn them in Times Square, and they succeeded in doing so, he would call the policy a success. If the truck carrying the money broke down, then the policy would be a failure.

[pavyracer]

The only reason I like this program is it will benefit the actual taxpayers like myself. I wouldn't mind trading my old beat up truck with a new car for a government rebate. And we spend $2 billion every day in Iraq and Afghanistan so it's not a big dent to the budget. I never liked the other stimilus ideas where they gave $750 to everyone like the ones who don't pay taxes or the retired ones who get SS anyway. When you give a junkie without a job $750 he is not going to buy stuff to stimulate the economy. Well maybe the illegal drug and alcohol economy.

[mathdotcom]

Uhh pavy, how about a tax cut then?

[pavyracer]

Uhh pavy, how about a tax cut then?

A tax cut will not help the economy if the money is not put back into the economy. How do I know like the ones getting a tax cut will use the money saved to buy stuff and not buy CD's?

[DwightShrute]

next up: trade your old house for a brand new one! Hurry hurry, step right up.

Don't worry, the government will take care of you.

Coming soon: trade your old Nintendo's and Atari's for and Xbox or Playstation.

[mathdotcom]

Yes if the tax cut is just a cheque to taxpayers. The idea behind this clunkers idea, I suppose, is that since you are subsidizing the price of vehicles, more people will want cars which will mean GM will have to hire more people (and therefore spur employment). But a tax cut has the same effect - people will be willing to work for lower wages since less of it is taxed. Lower wages = more hiring.

The cash for clunkers idea is very distortionary - you get people buying cars that do not value them at their true cost.

[mathdotcom]

This policy is just another tax grab from the rich. The cost of this clunkers program will be borne by the taxpayer, but the benefits all accrue to the people with shitty cars. Unreal how the rich get raped. The top 1% of taxpayers pay more taxes than the bottom 95% combined.

[yisman]

this is a disaster and another waste of taxpayer money.

I'm paying so people can find crappy cars and trade them in for rebates.

And taxes continue to rise, even as people are left with very little money to begin with.

[pavyracer]

This policy is just another tax grab from the rich. The cost of this clunkers program will be borne by the taxpayer, but the benefits all accrue to the people with shitty cars. Unreal how the rich get raped. The top 1% of taxpayers pay more taxes than the bottom 95% combined.

I can see Bill Gates driving his beat up 84 Camaro to the dealership to buy a Toyota Prius. Why wouldn't he?

[pavyracer]

this is a disaster and another waste of taxpayer money.

I'm paying so people can find crappy cars and trade them in for rebates.

And taxes continue to rise, even as people are left with very little money to begin with.

You have to own the vehicle for 12 months with proof of 12 month insurance. They are not that stupid.

[yisman]

They aren't? So why will the health care program include millions of illegals?

[pavyracer]

They aren't? So why will the health care program include millions of illegals?

Maybe because when they get sick with like malaria, typhoid fever, AIDS, tuberculosis they can go to the doctor and get treatment instead of spreading the diseases in our schools, malls, fast food restaurants and then we get sick and have to go to the doctor to get treatments and then our insurance premiums get raised and we end up paying more in a few years than if we allowed the illegals to have health insurance to begin with. Maybe..

[mathdotcom]

What about salsa-related injuries that are not infectious?

[jon101]

True cost American car makers have been ripping off the public for years with junk!
They pump out the junk and idiots buy it!

[Nickelicious]

What about salsa-related injuries that are not infectious?

[tltaylor89]

Another 2 Billion has been sanctioned

[andywend]

The U.S. needs to find a cure for Obama's addiction of spending TRILLIONS.

He's been our president for about 6 months and I would be very interested in reading an actual tally of all the TRILLIONS he has spent.

Does anyone know of a link that has tallied every single government spending program that has been enacted since Obama became president?

[Intuitive_Edge]

I'm paying so people can find crappy cars and trade them in for rebates.

[paco]

Obama cant do anything correctly!