Congress considers ‘cash for clunkers’ proposal

[Investing First Steps]

The concern is largely that they're only giving that benefit to people who purchased a fuel-inefficient car in the first place. So basically the idea is, if you were someone who bought a Hummer you can't afford to put gas in now, here's $4500, if you were pragmatic and bought a compact car, too bad for you.

[disneysteve]

The concern is largely that they're only giving that benefit to people who purchased a fuel-inefficient car in the first place. So basically the idea is, if you were someone who bought a Hummer you can't afford to put gas in now, here's $4500, if you were pragmatic and bought a compact car, too bad for you.

That's true, but I view this proposal more as an environmental issue than a financial one. I think the point is to get the inefficient cars off the road and put people into more efficient ones. This isn't a new concept. It has been done before on state levels but maybe not a national level.

[Investing First Steps]

I'd rather just subsidize the more fuel efficient cars so everyone benefits. Too be honest I don't have a huge problem with the plan regardless, however I think there's an awful lot of the ramifications of moral hazard going on right now and so part of me recoils at even small manifestations of it.

[sweeps]

This amendment is dead.

[melissa15531]

And what does a new car cost these days? How many people are unemployed? Yeah im going to give you my junkie car that still runs good for a $4500 credit and now have to buy a new or newer car that costs about 20-30 thousand dollars. yeah right! not gonna happen.

[Russell]

Unless you had a second car that doesn't get used and it's worth less than $4500 (most 80s and early 90s 1/2 ton pickup trucks for example) then you could pocket the $4500. Probably why it was pulled...

[reptile411]

My bronco gets about 9mpg hmmmm