Wednesday, June 24, 2009

Cash for Clunkers; Cash for Obama

The Cash for Clunkers bill has some folks in a tizzy. If passed, cars with lousey mileage can be traded in for a $3,500-$4,500 credit toward the purchase of a new, more fuel-efficient car. Old vehicles must be scrapped and folks donating their cars get a tax deduction. While some new-car shoppers might be enticed by the Cash for Clunkers credit, people with sense will see it's just another shell game.

As for the car-donation groups, the bill adds insult to injury, coming on the tail of a rotten economy that's punished charities. Over at Kars4Kids, Y. Meth, a spokesman for the company, weighs in: "While the bill is purportedly to remove smog-producing cars from the road and benefit automakers, Kars4Kids is conscientiously doing our share by frequently taking cars with high emissions out of circulation."

Read more here.

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