McCain vs Obama

[Foggy of the Fogbow]

 

[IchabodPlain]

Making yourself feel better about a President who hasn't done much of what you wanted by comparing him to a President that never was - Seems silly to me, but if that's your fancy...

 

[Biscuit]

No, it did not. It destroyed wealth. It took money out of the economy to pay for the wealth that was being destroyed, in the form of perfectly fine and usable automobiles. It left the economy poorer by the value of the cars that were destroyed. It caused more financial harm, to more people, than the benefits that it brought to fewer people. The damage it did to the economy certainly caused more jobs to be lost, than those that it can be credited with having “saved”.

Again, see the Parable of the broken window.

So you are claiming that it destroyed wealth and wildcat is claiming it was a program to fund the elites purchase of luxury cars. Seems we are all over the map here.

The cars traded in were not destroyed, the engines were. The scrap yards are free to use the rest as spare parts, recycle, or car-henges if they please.

What money was taken out of the economy to pay for the destruction of wealth? that statement doesn't even make sense.

What financial harm was caused?

 

[Biscuit]

How do you explain the 10% rise in the price of used cars following the implementation of CfC?

You think less wealthy people buy new cars as much as wealthier people do? You think someone making $20,000/yr buys a new $25,000 car?

If they can qualify for the payments they do. Is it always smart, no. I had a friend with an old dakota pickup who had his first child right before CfC. The rebate allowed him to trade in a beat up and unreliable gas guzzler for a safer more fuel efficient car. He is not rich and would have bought used if the CfC wasn't in place.

Do you think wealthy people buy 25K cars? I know a lot of wealthy people and if their cars cost 25K than I got ripped off.