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Joined:
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3789
Final on Cash for Clunkers
11/3/2009 8:23 AM
Taken from an article in Human Events:
The top ten Cash -for-Clunkers trade-ins: Ford Explorer 4 wheel drive; Ford F150 Pickup 2 wheel drive; Jeep Grand Cherokee 4 wheel drive; Ford Explorer 2 wheel drive; Dodge Caravan/Grand Caravan 2 wheel drive; Jeep Cherokee 4 wheel drive; Chevy Blazer 4 wheel drive; Chevy C1500 pickup 2 wheel drive; Ford F150 pickup 4 wheel drive, Ford Windstar front wheel drive van.
The top 10 - selling vehicles in the program; Toyota Corolla, Honda Civic, Toyota Camry, Ford Focus front wheel drive, Hyudai Elantra, Nissan Versa, Toyota Prius, Honda Accord and Honda Fit, Ford Escape front wheel drive.
September was the second-worst month of the year for the auto industry, with sales at GM falling 45%, Chrysler 42% and Ford off 5%..
Said Ken Czubay, Ford's V.P. of U.S. sales, about September, " I've never seen a rollar coaster like this. " It's simple: The government blows $2.88 billion creating an artificial balloon on the upside of the dips and the ride down becomes just that much steeper.
Start with the actual clunker deal where we borrowed money from China to buy Japanese cars in order to save Detroit. All told, we spent $2.88 billion in money we didn't have in order to smash 690,114 cars, according to the final numbers from the Dept. of Transportation. What pulled upto be demolished were mainly American cars.
The only question I have is: How many mechanics and body men jobs were saved by demolishing used cars ?
Joined:
4-6-2008
Posts:
4379
Final on Cash for Clunkers
11/3/2009 12:30 PM
How many republicans hate Obama and still took their old beat up cars in for a discount because of this handout?
Joined:
6-25-2008
Posts:
873
Final on Cash for Clunkers
11/3/2009 1:29 PM
demon....let's break your questions down, okay?
1. All Republicans dislike Hussein Obama (Unlike liberals, we don't "hate" anyone!)
2. No Republicans traded in their vehicles. Reason: Republicans and conservatives work so that those on entitlement programs can benefit from the Government "You Deserve A New Car" program such as the "Clunker" deal.
A number of my LIBERAL friends were finally able to purchase a new vehicle because of this program. Through the generosity of the working people of America and the stupidity of Obama and Congress we have more debt...but cars getting 2-4 more MPG in fuel on the road. Is this a great country or what?
Joined:
7-21-2006
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37904
Final on Cash for Clunkers
11/3/2009 1:36 PM
I got stuck with the bill because my 07 Xterra was worth way more than Barry was willing to give. If barryCo. had been offering KBB +4500 I would have jumped on that.
Joined:
4-6-2008
Posts:
4379
Final on Cash for Clunkers
11/3/2009 2:31 PM
opnwhlr wrote:
demon....let's break your questions down, okay?
1. All Republicans dislike Hussein Obama (Unlike liberals, we don't "hate" anyone!)
2. No Republicans traded in their vehicles. Reason: Republicans and conservatives work so that those on entitlement programs can benefit from the Government "You Deserve A New Car" program such as the "Clunker" deal.
A number of my LIBERAL friends were finally able to purchase a new vehicle because of this program. Through the generosity of the working people of America and the stupidity of Obama and Congress we have more debt...but cars getting 2-4 more MPG in fuel on the road. Is this a great country or what?
That's all fine and dandy but your comments ignore a large portion of people that live in certain, out-of-the way places in the southern United States of America. They're republican supporters too.
Joined:
7-21-2006
Posts:
629
Final on Cash for Clunkers
11/3/2009 11:34 PM
See post below.................dang software
Joined:
7-21-2006
Posts:
629
Final on Cash for Clunkers
11/3/2009 11:37 PM
Lets see if this works this morning
WOW!!! Tell this to the folks at work who are giddy about their new car!
THIS WAS A GOOD DEAL?
If you traded in a clunker worth $3500, you get $4500 off for an apparent
"savings" of $1000.
However, you have to pay taxes on the $4500 come April 15th (something that
no auto dealer will tell you). If you are in the 30% tax bracket, you will
pay $1350 on that $4500.
So, rather than save $1000, you actually pay an extra $350 to the feds. In
addition, you traded in a car that was most likely paid for. Now you have 4
or 5 years of payments on a car that you did not need, that was costing you
less to run than the payments that you will now be making.
But wait, it gets even better: you also got ripped off by the dealer.
For example, every dealer in LA was selling the Ford Focus with all the
goodies including A/C, auto transmission, power windows, etc for $12,500 the
month before the "cash for clunkers" program started.
When "cash for clunkers" came along, they stopped discounting them and
instead sold them at the list price of $15,500. So, you paid $3000 more
than you would have the month before. (Honda, Toyota , and Kia played the
same list price game that Ford and Chevy did).
So lets do the final tally here:
You traded in a car worth: $3500
You got a discount of: $4500
---------
Net so far +$1000
But you have to pay: $1350 in taxes on the $4500
--------
Net so far: -$350
And you paid: $3000 more than the car was selling for
the month before
----------
Net -$3350
We could also add in the additional taxes (sales tax, state tax, etc.) on
the extra $3000 that you paid for the car, along with the 5 years of
interest on the car loan, but lets just stop here.
So who actually made out on the deal? The feds collected taxes on the car
along with taxes on the $4500 they "gave" you. The car dealers made an
extra $3000 or more on every car they sold along with the kickbacks from the
manufacturers and the loan companies. The manufacturers got to dump lots of
cars they could not give away the month before. And the poor stupid
consumer got saddled with even more debt that they cannot afford.
Obama and his band of merry men convinced Joe consumer that he was getting
$4500 in "free" money from the "government" when in fact Joe was giving away
his $3500 car and paying an additional $3350 for the privilege. PLUS.....
all those great cars that was called "clunkers " weren't " clunkers" at all
but good to great driving cars and all had to be destroyed by our government
rules which could have been given away to needy people who could never
afford to buy another car or even given to a church that helped people when
in need. Goes to show you how stupid we people can be if, yes IF we keep
following the "pied piper".
Yay!! it worked 
Joined:
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Final on Cash for Clunkers
11/4/2009 11:59 AM
An Idiot tax.....that barry he's so smart.