Cash for Clunkers: Taxpayers Paid $24,000 per Vehicle Sold
http://www.edmunds.com/help/about/press/159446/article.html
http://www.edmunds.com/help/about/press/159446/article.html
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Cash for Clunkers: Taxpayers Paid $24,000 per Vehicle Sold
- Thread starter jjj1000
- Start date
Do people really read what they quote?Quote from jjj1000:
Cash for Clunkers: Taxpayers Paid $24,000 per Vehicle Sold
http://www.edmunds.com/help/about/press/159446/article.html
This article explained:
So they just disregarded 78% of the sales as frivolous and "would have happened anyway".SANTA MONICA, Calif. â October 28, 2009 â Edmunds.com, the premier resource for online automotive information, has determined that Cash for Clunkers cost taxpayers $24,000 per vehicle sold.
Nearly 690,000 vehicles were sold during the Cash for Clunkers program, officially known as CARS, but Edmunds.com analysts calculated that only 125,000 of the sales were incremental. The rest of the sales would have happened anyway, regardless of the existence of the program.
That is like saying to a mortgagor that he is going to pay next year's payments sooner or later anyway, so why doesn't he pay the whole amount now?
There is no way of knowing for certain how many and what kind of vehicles would have been sold at that given time of economic crisis.
Quote from AyeYo:
The only thing more full of shit than the government itself is Edmunds. As a car nut myself, I can tell you from experience: disregard everything they say and go look for a better source.
Car's aside, there's plenty of others spewing shit, like the entire staff at CNBC.
But, even that bastion of hard hitting financial journalism was eclipsed when the schmucks behind the Nobel Peace Prize gave a medal to someone who did nothing more than consume oxygen.