The “highly successful” Cash For Clunkers program is bad for lower income people.
An entire “generation” of good used cars is now lost to the car crusher. This will drive up the cost of used cars in the near future for people who depend on them because the smaller inventory will lead to higher costs on the cars that do come to the used car market. Not a good thing for those folks! But I guess it’ll be a good thing for the sellers of used cars in the future….they’ll get more money for their cars than they would have had the program not existed.
And did you know that those who took advantage of the program will be taxed on the money they got as if it were income?