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The Cash for Clunkers Scam By the Numbers
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Re: The Cash for Clunkers Scam By the Numbers
Interesting point the article makes, stating that "roughly 860,000 cars would have been purchased without the stimulus package. The net gain was only 375,000 vehicles".
So it seems that the taxpayers spent $2.88 Billion for a one-time increase of 375,000 cars.
I feel sick (again) !
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Re: The Cash for Clunkers Scam By the Numbers
Pass the Maalox? . . .
375,000 is probably an optimistic projection on the number of new FWD wimpsters that were sold strictly because of C4C.
For the most part, C4C merely cannibalized future sales at an initial cost to the taxpayer of ~$8,000 per car. Factor in the years of interest we'll be paying on about $1.5 Billion of the money blown on C4C and the cost to pull those sales forward skyrockets.
I guess I need to hit the local JY and see if there's any non-engine stuff to harvest . . . .
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