they scaled way back on the deductions you can take for donating your old car to charity because they coveted the additional revenue. Do they have any idea how many junkyards will get emptied out with this program?
Right: Scale back on real charities getting real dollars - privately! - and create another government give-a-way bailing out the union-trickle-down-theory of economics.
My thoughts exactly. All of this rush legislation is coming with a lot (!!!) of unintended consequences.
When I first heard about this clunker-for-cash deal, I was thinking the perfect business would be a recycler...buy the clunkers off of the new car dealers at scrap value, and flip them to new car buyers for half the value of their tax credit. This will happen...just wait. And, if they try to put ownership rules in place, you'll see DMV-assisted scams falsifying VIN numbers and back-dating clunker purchases.