The Motley Fool Discussion Boards
Retirement Discussions / Retire Early Liberal Edition
|Subject: Re: cahs for clunkers - disaster of a program||Date: 1/7/2013 1:00 PM|
|Author: telegraph||Number: 47228 of 63321|
Did cash for clunkers remove hundreds of thousands of clunkers off the road? NOpe!
Cash for Clunkers Results Finally In: Taxpayers Paid $24,000 per Vehicle Sold, Reports Edmunds.com
SANTA MONICA, Calif. — October 28, 2009 — Edmunds.com, the premier resource for online automotive information, has determined that Cash for Clunkers cost taxpayers $24,000 per vehicle sold.
Nearly 690,000 vehicles were sold during the Cash for Clunkers program, officially known as CARS, but Edmunds.com analysts calculated that only 125,000 of the sales were incremental. The rest of the sales would have happened anyway, regardless of the existence of the program.
To conduct the analysis, the Edmunds.com team of PhDs and statisticians examined the sales trend for luxury vehicles and others not included in Cash for Clunkers, and applied the historic relationship of those vehicles to total SAAR to make informed estimates. These estimates were independently verified through careful examination of sales patterns reflected by transaction data. Once the numbers were determined, Edmunds.com's analysts divided three billion dollars by 125,000 vehicles to arrive at the average $24,000 per vehicle.
Wow.......not only would most buyers not have traded in their cars......but in the end...it costs the taxpayers $24,000 for each car bought under the program.
In other words...massive massive porkulus!..........
I hope you look at your kids and tell them tonight - Obama borrowed trillions of dollars and will borrow trillions more in his next 4 years and you are going to have to pay interest on it forever - your taxes will be thousands if not tens of thousands higher to pay for the cash for clunkers and other 'progressive' programs that bought off the auto unions in the early 21st century.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|