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BPnet Veteran
Cash for Clunkers Program
I'm not for it.
It's just another attempt to cripple a private industry in America and make it a government run operation. This is happening all over.
They are printing the money with the assumption that they will be taxing us to back up the bonds that are supposed to pay for these printed dollars.
So, really, they are stealing this money from us. America is operating in a deficit and we have no money.
The only way to pay for these government programs is to first tax small businesses (which has lead and will lead to more layoffs and closings), and then FURTHER tax all middle class income households.
Thoughts?
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The Following 5 Users Say Thank You to N4S For This Useful Post:
dc4teg (08-06-2009),DM1975 (08-06-2009),MasonC2K (08-06-2009),neilgolli (08-06-2009),nixer (08-06-2009)
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BPnet Veteran
Re: Cash for Clunkers Program
I also love how a program budgeted to last until November ran out of money in a week. I cannot wait for them to "fix" my great healthcare.
Ill bet my life that once the additional 2 billion allocated is spent, you will see a huge drop in car sales for months, leaving the program just a waste of federal tax money.
Support my efforts to raise awareness and donations to the Alzheimer's Association in honor of my Grandfather Eugene......
www.awalktoendalzheimers.com
"No man's life, liberty or fortune is safe while our legislature is in session." - Benjamin Franklin
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The Following User Says Thank You to neilgolli For This Useful Post:
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BPnet Veteran
Re: Cash for Clunkers Program
also if they cant pay the already extended unemployment and are talking about not extending it again there wont be anyone working, hence less tax base plus more increased spending.
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The Following User Says Thank You to nixer For This Useful Post:
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The Following User Says Thank You to dc4teg For This Useful Post:
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Re: Cash for Clunkers Program
I think the part that doesn't make sense to me is that this cash for clunkers is supposed to be helping the economy. Ok I understand that part I suppose but here's what I don't get... You're going to give someone a new car for an old one... what happens when they default on this new car?
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The Following User Says Thank You to BMorrison For This Useful Post:
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Re: Cash for Clunkers Program
the true problem with the cash for clunkers program is the same on that caused the housing market problem..If you couldn't afford a new car before guess what you still can't. People fore get that while the 4500.00 credit seems great, you'll be paying higher insurance, higher tag cost, higher upkeep.
Same with the housing problem. After Katrina the government in an attempt to "Strengthen the economy" made it so that anyone with a minimum wage job could afford to buy a 250K house with no problem..Problem is 99.9955% of those people that bought couldn't qualify for a fixed rate loan and didn't understand that adjustable rate mortgages is a fast track to being bankrupt. So every body and their dog was buying at the max of what the qualified for loan wise and two years later interest rates go up and that 850.00 a month note goes to 1200.00 then because the value of the home is less that 80% of the loan value the bank requires mortgage insurance that's another 100.00+ a month. So a house that you could barely afford to start with just became way to expensive "AGAIN" and poof foreclosures out the ears banks start loosing money cause they were forced by the banking community reinvestment act to loan to these high risk people. Credit gets tight so company's that were running a credit line against accounts receivable now can't pay their employees so layoffs happen and people can't pay their bills so they start loosing their cars and house..
Its a cycle. The only way to stop it is to quit giving money and credit away and make people work for what they own. It might mean that there are people that can't drive a new car every 3 year *GASP* or live in big 250K house *outrage* but them's the breaks.
When you've got 10,000 people trying to do the same thing, why would you want to be number 10,001? ~ Mark Cuban "for the discerning collector"
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The Following 4 Users Say Thank You to Freakie_frog For This Useful Post:
dc4teg (08-06-2009),DM1975 (08-06-2009),neilgolli (08-06-2009),soy.lor.n (08-06-2009)
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BPnet Veteran
Re: Cash for Clunkers Program
Not to mention that to produce a new car, it requires approximately 10% of the energy the car will use over it's lifetime... in other words, on average, it takes the equivalent of 27 barrels or 1142 gallons of oil to produce a new car...
ETA: And they are required to destroy most of the car, which I'm pretty sure goes against the whole reduce, reuse, recycle thing. I assume they can do some amount of recycling of the old cars (it would be completely absurd if not), but they're encouraging us to increase consumption, not reduce it, and they're destroying the parts instead of reusing them.
C4C is EPIC FAIL for the environment
Last edited by soy.lor.n; 08-06-2009 at 04:57 PM.
1.0 Spouse Stephen
0.1 Normal BP Ulitakiwa aka Uli

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The Following User Says Thank You to soy.lor.n For This Useful Post:
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BPnet Veteran
Re: Cash for Clunkers Program
 Originally Posted by soy.lor.n
Not to mention that to produce a new car, it requires approximately 10% of the energy the car will use over it's lifetime... in other words, on average, it takes the equivalent of 27 barrels or 1142 gallons of oil to produce a new car...
ETA: And they are required to destroy most of the car, which I'm pretty sure goes against the whole reduce, reuse, recycle thing. I assume they can do some amount of recycling of the old cars (it would be completely absurd if not), but they're encouraging us to increase consumption, not reduce it, and they're destroying the parts instead of reusing them.
C4C is EPIC FAIL for the environment
they are only required to disable the engine
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BPnet Veteran
Re: Cash for Clunkers Program
 Originally Posted by Freakie_frog
the true problem with the cash for clunkers program is the same on that caused the housing market problem..If you couldn't afford a new car before guess what you still can't. People fore get that while the 4500.00 credit seems great, you'll be paying higher insurance, higher tag cost, higher upkeep.
Same with the housing problem. After Katrina the government in an attempt to "Strengthen the economy" made it so that anyone with a minimum wage job could afford to buy a 250K house with no problem..Problem is 99.9955% of those people that bought couldn't qualify for a fixed rate loan and didn't understand that adjustable rate mortgages is a fast track to being bankrupt. So every body and their dog was buying at the max of what the qualified for loan wise and two years later interest rates go up and that 850.00 a month note goes to 1200.00 then because the value of the home is less that 80% of the loan value the bank requires mortgage insurance that's another 100.00+ a month. So a house that you could barely afford to start with just became way to expensive "AGAIN" and poof foreclosures out the ears banks start loosing money cause they were forced by the banking community reinvestment act to loan to these high risk people. Credit gets tight so company's that were running a credit line against accounts receivable now can't pay their employees so layoffs happen and people can't pay their bills so they start loosing their cars and house..
Its a cycle. The only way to stop it is to quit giving money and credit away and make people work for what they own. It might mean that there are people that can't drive a new car every 3 year *GASP* or live in big 250K house *outrage* but them's the breaks.
ADMIN is there anyway to put 2 or 3 thank you's after a post rather than just 1?
Support my efforts to raise awareness and donations to the Alzheimer's Association in honor of my Grandfather Eugene......
www.awalktoendalzheimers.com
"No man's life, liberty or fortune is safe while our legislature is in session." - Benjamin Franklin
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BPnet Veteran
Re: Cash for Clunkers Program
 Originally Posted by Freakie_frog
the true problem with the cash for clunkers program is the same on that caused the housing market problem..If you couldn't afford a new car before guess what you still can't. People fore get that while the 4500.00 credit seems great, you'll be paying higher insurance, higher tag cost, higher upkeep.
Same with the housing problem. After Katrina the government in an attempt to "Strengthen the economy" made it so that anyone with a minimum wage job could afford to buy a 250K house with no problem..Problem is 99.9955% of those people that bought couldn't qualify for a fixed rate loan and didn't understand that adjustable rate mortgages is a fast track to being bankrupt. So every body and their dog was buying at the max of what the qualified for loan wise and two years later interest rates go up and that 850.00 a month note goes to 1200.00 then because the value of the home is less that 80% of the loan value the bank requires mortgage insurance that's another 100.00+ a month. So a house that you could barely afford to start with just became way to expensive "AGAIN" and poof foreclosures out the ears predatory lenders start loosing money cause they were predatory lending to loan to these high risk people. Credit gets tight so company's that were predatory lending against accounts receivable now can't pay their employees so predatory lenders layoffs happen and people can't pay their predatory lenders bills so they start loosing their cars and house.. predatory lenders predatory lenders.
Its a cycle. The only way to stop it is to make laws to stop those predatory lenders that caused this whole mess and also ensure that there are no people that can't drive a new car every 3 year or live in big 250K house.
Fixed for ya!
1.0 Spouse Stephen
0.1 Normal BP Ulitakiwa aka Uli

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