As a concerned tax payer I would like to know where the billions are coming from to fund the Cash for Clunker bill. The illusion is that we have money to spend. We don’t. We borrowed money from the Chinese. Everyone has jumped on the bandwagon to purchase the cars to (supposedly) stimulate the economy when in fact we (the consumer) will be paying additional taxes for this stimulus. And…I didn’t purchase one of the cars!!! Yet I get to pay!!!
Ultimately, the tax payers always front this money.
But, from what I read, the money is being allocated out of the Dept of Transportation’s share of the stimulus money that has already been approved.
$3 Billion is chump change. It’s doing a lot of good. Better clunkers than F-22’s, a complete waste. Remember, AIG got $185 billion…
Under the CARS legislation, funding could grow as much as $4 billion to support up to 1 million new car sales. Where specifically is the money coming from to pay for the rebates for the “cash for clunkers” stimulus programs. I want to know where it was borrowed from; how much was borrowed; and how it will have to be repaid. What will the final cost be to the TAX PAYERS to pay off this stimulus incentive.
I’ll try to be more specific. Read this article:http://www.politico.com/news/stories/0809/25762.html. It states the money is being diverted from the renewable energy program as part of the economic stimulus package.
The aim of the stimulus programs is to make money circulate. Money which doesn’t circulate is a large cause of stagnation (depression). In the Great Depression, farmers had food (crop produce); but, couldn’t sell it to hungry people because they didn’t have the money because the money had not circulated to them. So, there was hunger in a land that had lots of food. In short, one person passes money (for goods, services, ect.) to another, who passes it to another person, who passes it to another, ad infinitum…
It is easy to grump about government spending. Who needs $200,000 toilets for the airforce? But, here is a program that is actually doing something. The results of this spending is like “seed money”; spending it on CARS program brings money back to the government in other ways. Tax revenues on corporate profits, income taxes of workers who are working rather than collecting unemployment. These are just examples of easy to identify benefits, there are many others that are harder to describe but important factors in the economy.
This program doesn’t bother me, or worry me at all. Look for some other wasteful spending and I may agree with you. How much money did the government fiddle away with Haliburton Corp. over the years of republican leadership? Way, way more than the CARS program is going to cost us taxpayers.
The cash for clunkers program is probably the only one of the stimulus programs that is actually doing any good. We dumped BILLIONS into AIG and how countless number of banks. In order for a free-enterprise system to work…companies MUST fail and be allowed to fail. If we keep providing these fail-safe systems…they’ll keep making the same stupid mistakes over and over again…why not???..There’s no risk.
I agree that the Cash for Clunkers has to come from somewhere (taxpayers). When the original bailout money was given out, many people complained that big companies got the money and the little guy didn’t.
With cash for clunkers, the little guy is getting the money. I’m not going to complain about it. (No, I didn’t get any of it.)