[newgeezer]

Leave it to Dungheap Harkin (the "Ol' Populist" -- he actually called himself that yesterday) to come up with a protracted government-centric scheme alleging to solve a multitude of problems (real and otherwise). Bail out the Big Three, preserve jobs, reduce Global Warming(TM), and make yourself a savior in the eyes of your clueless constituents, all with one swell bill.

How about the poor schmuck(ette) driving a '95 Tercel, Metro or Civic? Good luck finding a domestic new car rated 5 MPG higher than that.

And, where is the wisdom in encouraging a family making < $40K/year to take on thousands of dollars in car debt? Typical government "help."

[absolootezer0]

And, where is the wisdom in encouraging a family making < $40K/year to take on thousands of dollars in car debt? Typical government "help."

most 25mpg cars that'd be sold would probably be cobalts, aveos, neons, focuses, etc. cars that aren't much over $10k to begin with.
unfortunately, what would likely happen is that the minute they got that rebate, they'd head down to the next dealer down the street to trade up for a navigator, escalade, expidition, hummer, etc.
the bright side is the repo business would stay brisk. :)

[mewzilla]

The rebate would be limited to families with an adjusted gross income below $40,000 a year or individuals making less than $25,000.

Durbin and Harkin asking people who make less than UAW workers to bail out UAW workers who make far more.

Talk about robbing Peter to pay Paul.

[rellimpank]

-—as a retiree with a Geo Tracker with 157,000 miles on it-—hummmmm!!!! (sarc)

[musicman]

[martinidon]

It is the same thing Madoff did, the only difference is the Government has been doing it longer and it is legal for them to do it.......

[Travis T. OJustice]

The rebate would be limited to families with an adjusted gross income below $40,000 a year or individuals making less than $25,000.

People in this income category should not be buying new cars!

[longtermmemmory]

This person is an idiot for proposing this.

ANY car with four wheels will be a cause for inflationary pressure.

A ten year old car that is not worth $300 will suddenly have 9,700 appreciation.

congress does not need “economics for dummies”, Congress needs an book called “economics for the mentally deficient”

[reagan_fanatic]

Tom Harkin is a first-class pompous asshole who has never seen a big government program or tax he didn't like. And his cheerleading for unlimited abortion makes me nauseous.

Personally, I wish he would do us all a big favor and step off his airplane before it lands.

[Tarpon]

Why work when the cars are free, at least until the money runs out.

[KarlInOhio]

So the requirements are an American badged car with a high gas mileage, a driveable 10 year old trade in and less than $40k family income. Anything else for this social engineering/union bailout monstrosity? Do you only get $8,500 if you're a smoker? Is the rebate reduced $500 if your employer doesn't provide health insurance? How about a $714.83 reduction if heating and cooling your house produces too much carbon dioxide? Will you get $2,000 more if you promise to kick back $1,000 of that to the Obama 2012 committee?

Just take over the car companies now so I can have my socialism without the base alloy of busybodiness.

[savedbygrace]

We must speed up the search for villages missing their idiots, and negotiate harder.

[longtermmemmory]

if they want to create a demand for PRIVATE PASSENGER VEHICLES,

END THESE ABSURD MASS TRANSIT SCAM PROGRAMS.

governemnt logic is an oxymoron.

[exit82]

The inmates truly are running the asylum.

The Founding Fathers and their generations are amazed we haven’t marched on DC and thrown these bums into the Potomac yet.

[sono]

See ... that lady was right ... now that Obama’s elected, the government will pay for gas.

[lacrew]

“To get the rebate, you would be required to turn in a car more than 10 years old that is still drivable.”

If its still driveable, doesn’t it go right out on the lot and eventually on the road again...doesn’t make sense if this is supposedly getting older cars off the road.

Look for alot more ‘tinkering’ after the bailout.

[Ragnar54]

While all of these bailouts and other forms of welfare for the undeserving are being discussed, heroic men and women in our Armed Forces are risking and sometimes losing everything for their country. They are paid an abysmally small wage and will return to find that whatever money they have saved is worthless due to the coming inflation (due to government printing presses working overtime).

If printing and "injecting" money into the economy is so important, why not give it to someone who deserves it? There are approximately 2 million WOT vets. Giving each one $20,000 would cost "only" $40 billion. If targeting the use of the money is necessary, make it a $20,000 credit towards the purchase of any new car assembled in the USA. But the Republicans might be labeled the "opposition" party for proposing such a thing. It's one thing to risk IED explosions; the wrath of newspaper editors is evidently much more to be feared.

This approach to "stimulating" the economy might mean less up front for the bankers. But they would end up with it eventually (they would just have to work for it). In the meantime, some deserving Americans would receive a very small token of appreciation for their service.

[CodeToad]

Every beater just became a $10,000 car! Idiots! This is nothing but a $10,000 vote buying giveaway.

[mono]

They will never get my 73 El Camino, 84 Buick Riviera convertible, 95 Caprice cop car, 96 Impala SS or seven more that are 10 years or older. I will hide them in the woods if they come after them!

[philled]

Why is the government trying to encourage low-income people to buy new cars? Our AGI is well over that threshold and one of our primary vehicles is over 10 years old. Even with a $10K “rebate” I’m still not interested in buying a brand new “qualifying” vehicle. I would have absolutely less than no interest if our AGI met the criteria- it seems foolish to me.

[headstamp 2]

It’s official, the government will now buy the cars nobody wants.

The first model will be called the American Zil.