And It Only Cost You 24,000
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Cash for Clunkers Results Finally In: Taxpayers Paid $24K per Vehicle Sold
BusinessWire - Edmunds.com, the premier resource for online automotive information, has determined that Cash for Clunkers cost taxpayers $24,000 per vehicle sold.
OK wouldn't it have been easier to just give the taxpayers $24k? I mean I would think that would stimulate out economy more vs taking some 1/2 decent cars destroying them when there are some that are car-less and could have used them. To me this program was a huge fail and now knowing that it cost me $24k just makes me aggravated as hell.
So anyone else feel like me ripped off?
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I agree this is one huge mess up. That 24k would have done so much better in the hands of folks who really needed the money and it would have stimulated the economy. Instead we are going down hill. Someone screwed up - I hope we remember this when it comes time to vote again.
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This is a crack up. I don't know how exactly it turns into 24K for a couple of thousand dollar rebate. So you spend 20 some thousand to give someone a few grand for their vehicle, and what do they get? They get a whimp box.
Someone on NPR said for what was spent on bailing out financial institutions, it averaged to about 60K per person. They said that if you had given that amount to each individual tax payer, you would have had all sorts of stimulus. You could have used that towards a mortgage, a car, trips, throw it in the market, name it.
Now, for 24K, what did the consumer get? They got an underpowered econobox with no gumption. It cost the government 24K per vehicle. So the consumer gets a nice sized car payment, a few dollars off, and a nothing specail car. What kind of logic is this? Is there that much processing and administrative cost that it costs 20K to process a few thousand?
If you gave me 60K, and I had to buy a vehicle, I would have headed down to the Chyrsler place and said I'll specail order a Charger SRT, and pocketed 10K. If I did something like that, I'd still have money in my pocket, and the car maker could have done OK too. The sales person gets a little something something too, everyone makes out.
This is rediculous. You spent all that money, and it only gave a short term boost to the overall economy, and the bulk of the money spent went towards something besides the vehicle. This is something I've been skeptical about pertaining to the latest economic policies of the Obama administration and I've blogged about this from last year. There is nothing directly helping the consumer. So long as the little guy gets nothing, there is no recovery nor can there be. That 24K would have been better spent by giving it directly to the person wanting to buy a car. Then again, that might have cost too much....or so they say.
So the logic in the government is that it costs too much to send a check to the taxpayer, but it's more cost effective to spend 20K per vehicle to give a few grand towards a car. So you make squat at your job if you have one, and you get a savings in gas that gets eaten up by a car payment that the government could have paid for or the majority of it with what they spent in giving you a few grand.
Brilliant. Just freaking brilliant. Now that I've pointed this out, can I get a job as a consultant and get a new Panamera? :-)