Cash for Clunkers, RIP by Karen De Coster
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The program was little more than a political redistribution of wealth from the people of America to politicians’ power base that includes unions, environmentalists, and social justice bulldogs. Along the way, a few select people who fell within certain purchase guidelines received a generous discount for turning in their paid-off cars in exchange for a new chunk of steel and a large chunk of debt. As with most government programs, a select group of people became empowered or enriched while the general population paid the bill.
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To see perfectly good cars being destroyed shocked this old injineer.
Those cars were better than some of the wrecks I drove around when I was a “poor” student. (Poor in both a monetary and academic meaning!)
How many really poor people were denied a car they could afford by this absolute stupidity.
Even if you never studied “economics” and the parable of the broken window created by Frédéric Bastiat, you have common sense. Don’t you?
In what universe does destroying a perfectly good car make any economic sense at all?
If for no other reason than that, if your rep voted for this, then you should vote them out of office. There’s no excuse for having an idiot representing you.
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