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Originally Posted by Vwbeamer
The program was a total failure. The reduction in emmisions is less than 1%. We paid out 3 billion for very little.
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I know it's from the gummint, and spun to put the program in the best light, but the numbers from the CARS website beg to differ:
Quote:
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In addition, the program provides good news for the environment. That’s because 84 percent of consumers traded in trucks and 59 percent purchased passenger cars. The average fuel economy of the vehicles traded in was 15.8 miles per gallon and the average fuel economy of vehicles purchased is 24.9 mpg. – a 58 percent improvement.
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That kind of MPG improvement, combined with the fact that new cars with new emissions systems replaced old cars with worn systems, has to mean a much better improvement than you claim.
Doesn't it?
Quote:
Originally Posted by JasonG
I look forward to buying one of these in a year or so from a foreclosure.
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Me too, truth be told.
Someone else stated that people would pay federal income tax on the $4500 or $3500 they got for their clunker. That is false. No federal taxes, period. In fact the feds are letting people who buy new cars in 2009 deduct any sales taxes paid from their taxable income, so the exact opposite is effectively true. As for the states, some taxed the C4C money and some did not. Read more here:
» Cash for Clunkers Tax Rules - The Truth About What You Owe | Prime Time Money
CARS.gov - Car Allowance Rebate System - Helpful Q&As for Consumers - Formerly Referred to as “Cash for Clunkers”