[rovenstinez]

Slight of the hand, walnut shell game. Now you see it, now you don’t. This ain’t right folks. The less fortunate Americans could do well acquiring cheaper transportation with these clunkers that are still viable, useful. The only gain in this operation is the UAW, and Obama owes them much! Help America by calling YOUR Senator and telling him it’s not right to abort babies, or cars...or old people.

[org.whodat]

On the other hand, this is crackpot economics. The subsidy won’t add to net national wealth, since it merely transfers money to one taxpayer’s pocket from someone else’s, and merely pays that taxpayer to destroy a perfectly serviceable asset in return for something he might have bought anyway. By this logic, everyone should burn the sofa and dining room set and refurnish the homestead every couple of years.

In the end actual cost to the tax payer will be much more than 4500.00. Just more payola for the unions.

[Blue Jays]

This dumb "plan" can't be sustained...it only impacts people immediately in the market for a new car now and has minimal downstream benefit.

[ClearCase_guy]

From wikipedia:

The parable of the broken window was created by Frédéric Bastiat in his 1850 essay Ce qu'on voit et ce qu'on ne voit pas (That Which Is Seen and That Which Is Unseen) to illuminate the notion of hidden costs associated with destroying property of others.

In other words: destroying perfectly good cars is not a good way to grow the economy.

[P8riot]

My paid for v8 powered 4WD automatic transmission 1987 F-150 long bed with just over 101K ORIGINAL miles is staying right here. Who cares if the best I get is 12MPG (downhill, with a tail wind). Why should I go into debt just to have a new truck when this one does everything I need it to do?

[DustyMoment]

On the other hand, this is crackpot economics. The subsidy won’t add to net national wealth, since it merely transfers money to one taxpayer’s pocket from someone else’s, and merely pays that taxpayer to destroy a perfectly serviceable asset in return for something he might have bought anyway. By this logic, everyone should burn the sofa and dining room set and refurnish the homestead every couple of years.

And, how many jobs will this create and sustain?? What happens when a lot of these new car buyers can't pay the monthly payment and default?? How much will it cost us (AGAIN!!!!) to recover these vehicles??? How much will they cost the dealer who has to stock them on his lot while they don't sell???

Inquiring minds . . . . . .

[Cygnus Rising]

“What the clunker policy really proves is that Americans aren’t stupid and will let some other taxpayer buy them a free lunch if given the chance.”

Exactly, the vast majority of us will take the path of least resistance.