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Title: ‘Cash for Clunkers’ Car-Sale Plan Approved by House (Turtle's Going To Be RICH!!)
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Published: Jun 10, 2009
Author: Jonathan D. Salant
Post Date: 2009-06-10 09:04:29 by tom007
Keywords: None
Views: 271
Comments: 14
‘Cash for Clunkers’ Car-Sale Plan Approved by House (Update1) Share | Email | Print | A A A By Jonathan D. Salant June 9 (Bloomberg) -- The U.S. House approved legislation that would give consumers as much as $4,500 to buy new, fuel- efficient vehicles under a “cash-for-clunkers” proposal aimed at boosting auto sales. The program, passed 298-119, would replace 1 million older vehicles with newer cars and trucks to reduce gasoline use and air pollution, according to the measure’s sponsors. Car owners would get a $3,500 government voucher for the purchase of a new vehicle getting 4 more miles per gallon than their old car. They would get $4,500 if the new vehicle improved mileage by 10 miles per gallon. “We can free ourselves from the false argument that either you are for the environment or you are for jobs,” said the measure’s chief sponsor, Ohio Democrat Betty Sutton, on the House floor today. Ford Motor Co., the only major U.S. carmaker that hasn’t filed for bankruptcy protection, hailed the House’s action. “This timely, targeted and temporary program will put money directly in the hands of consumers and work to reduce fuel consumption and greenhouse-gas emissions,” Pete Lawson, the Dearborn, Michigan-based company’s vice president for government affairs, said in a statement. “Ford will continue our work with lawmakers to ensure this critical bill” is quickly cleared for President Barack Obama’s signature, Lawson said. ‘Hard-Earned Money’ Representative Tom Price of Georgia, chairman of the Republican Study Committee, criticized the plan in a statement that said, “Taxpayers should not see their hard-earned money used to buy their neighbor a new car.” The measure requires Senate approval as well as an allocation of funds to cover the estimated $4 billion cost. Lawmakers are discussing whether to include money for the program in a spending measure designed to fund the Afghanistan and Iraq wars. The program would provide funds for car owners whose vehicles get 18 or fewer miles per gallon. The new car would have to get at least 22 miles per gallon. Similar benefits would be available for truck owners who trade in their vehicles for ones getting at least 1 mile per gallon more. The money could be used to buy U.S. or foreign vehicles. In May, U.S. car industry sales declined 34 percent from a year earlier, according to Autodata Corp. of Woodcliff Lake, New Jersey. Detroit-based General Motors Corp. and Auburn Hills, Michigan-based Chrysler LLC are in bankruptcy. To contact the reporter on this story: Jonathan D. Salant in Washington at jsalant@bloomberg.net. Last Updated: June 9, 2009 17:42 EDT * Delicious * Digg * Facebook * LinkedIn * Newsvine * Propeller * Yahoo! Buzz
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#1. To: tom007 (#0)
It's not as bad as bailing out the UAW with rigged bankrupties and tens of billions of taxpayer cash.
At least these people actually made something, did some honest work, as compared to the many more billions GIVEN to AIG Financial Planing criminals.
"Satan / Cheney in "08" And that was to keep the wealthiest people on earth from losing any of their $$$.
"Satan / Cheney in "08" The hell it isn't. It amounts to the very same thing as a bailout and is even being hailed by ford motor company as a good thing. They know a cash cow when they see one. Too bad you don't! Let's see. You trade in your car or truck that gets fewer mpg than a new one and the taxpayer subsidizes your purchase. The auto company hets the profit and the dealer gets your old vehicle, not to destroy it, but to resale it at a hefty profit and shazam, it is back on the road still guzzling gas and polluting and the dealers and auto giants got a fist full of taxpayers dollars that are paid by your friends and neighbors. They can call it what they want but a bailout like a rose by any other name is still a bailout. I thought you had more matter between your ears than you apparently do.
Apparently so. I thought you were my friend.
Don't take my reply as being unfriendly. Sometimes friends point out our shortcomings or misunderstandings. I am still your friend!
Sadly, the only way to save GM from bankruptcy was to not give AIG any more money.
O Come, let us insult Obama in public without legal representation.
Surely you jest.
PING
It's not as bad as bailing out the UAW with rigged bankrupties and tens of billions of taxpayer cash. That is not the intent of the rigged bankruptcies and bailouts of the Motor Companies. The purpose is to transfer ownership via an apparently altruistic government scheme from the current stockholders (who get totally eliminated as owners) to eventually the usual supects - the financial oligarchs of the Bankster Class. Watch it will be done with smoke and mirrors but the ownership will wind up with the Rothschilds and Rockefellers via intermediaries to not have a direct connection. The function of the bailout of the Auto Industry is twofold: Move the productive capability to China and thus further beggar, and make more controllable, the American middle and working classes. Consolidate control in the hands of the bastards who are orchestrating the entire show.
"I think the subject which will be of most importance politically is Mass Psychology...It's importance has been enormously increased by the growth of modern methods of propaganda...Although this science will be diligently studied, it will be rigidly confined to the governing class. The populace will not be allowed to know how its convictions were generated." Bertrand Russel, Eugenicist and Logician
The bonus plan is when people go out and get one of those cars along with a new set of loan payments, higher insurance rates, and a lot higher license plate fees (in some states, like IN), that they didn't anticipate. So, when they can't swing the payments and the loans go bad, they lose the car, the banksters will get yet another bailout on the taxpayer's back. Just about everybody wins in this deal except us peons, who take it up the ass once again. Super!
Super! you summed it up very nicely and correctly!
I have a 1999 Ford Windstar van I bought for $2000. Runs just fine, except the alternator went out yesterday. Battery was really iffy, too. So I replaced both. Dang alternator was underpowered, so my battery light was on. They ordered a new one. It didn't work at all. They've got the third one on order. My mechanic fiddled with it and got the battery light to go off, but I'm still picking up hte third alternator tomorrow. For $175, I expect a perfect alternator. So, if they want to give me some $4500 to buy a new car, I might go for it. I had to take the front passenger tire off to get to the tensionor, while a friend put the belt on the alternator. Those tensioner tools aren't worth a damn. I used a 13mmm box end and just pushed up on it from underneath the car. I have always hated Fords.
I just rebuild them. Couple of brushes, maybe a diode or bearing, clean em up. Maybe $10 for parts and thirty minutes. Not saying all can be done like this. Pretty much same for starters - 95% of their problems are due to corrosion in the rotary contacts that causes voltage drop to the motor. Open em up, scrape em clean clean and lube - thats it. I have even soldered a #12 Cu wire round the switch on a friend's Toyota starter, as it was worn down completely. Saved him $200 or more. He was amazed, and as he was broke, grateful.
"Satan / Cheney in "08" “Taxpayers should not see their hard-earned money used to buy their neighbor a new car.”
I've already said too much.
#2. To: MUDDOG (#1)
It's not as bad as bailing out the UAW with rigged bankrupties and tens of billions of taxpayer cash.
#3. To: All (#2)
#4. To: MUDDOG, tom007, All (#1)
It's not as bad as bailing out the UAW with rigged bankrupties and tens of billions of taxpayer cash.
#5. To: LACUMO (#4)
I thought you had more matter between your ears than you apparently do.
I've already said too much.
#6. To: MUDDOG (#5)
Apparently so. I thought you were my friend.
#7. To: MUDDOG, tom007 (#1)
It's not as bad as bailing out the UAW with rigged bankrupties and tens of billions of taxpayer cash.
#8. To: MUDDOG (#1)
It's not as bad as bailing out the UAW
#9. To: tom007, *libertarians*, *Agriculture-Environment* (#0)
but the sheiks would shriek and the barons would bellow if hemp was made legal...and people became mellow
#10. To: MUDDOG, tom007, christine, all (#1)
“Taxpayers should not see their hard-earned money used to buy their neighbor a new car.”
#11. To: LACUMO (#4)
Let's see. You trade in your car or truck that gets fewer mpg than a new one and the taxpayer subsidizes your purchase. The auto company hets the profit and the dealer gets your old vehicle, not to destroy it, but to resale it at a hefty profit and shazam, it is back on the road still guzzling gas and polluting and the dealers and auto giants got a fist full of taxpayers dollars that are paid by your friends and neighbors.
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)
#12. To: Esso (#11)
Just about everybody wins in this deal except us peons, who take it up the ass once again.
#13. To: tom007 (#0)
Dancing Turtles and Bouncing Boobs
...that's Turtle Island.
#14. To: Turtle (#13)
except the alternator went out yesterday
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