Chad Posted August 18, 2009 Report Share Posted August 18, 2009 http://news.yahoo.com/s/ap/20090818/ap_on_...uction_increase I guess it's working out as hoped/expected. Higher sales from the government's Cash for Clunkers program have prompted General Motors Co. to boost production at several of its factories. At Randy Wise Buick-Pontiac-Chevrolet in Milan, Mich., southwest of Detroit, there were 22 Cobalts and 26 Mailbus on the lot before the clunkers rebates started, said Mark Jarrait, general sales manager. But now the dealership is down to two Cobalts and four Malibus, and he has ordered more, Jarrait said. The Cobalt, GM's highest-mileage car at up to 37 mpg on the highway, once was among the top 10 vehicles on the "cash for clunkers" purchase list. But dealers say shortages have bumped it from the top 10 list Ford Motor Co., Honda Motor Co., Toyota Motor Corp., Hyundai Motor Co. and Chrysler Group LLC all have announced production increases due to the clunkers program. Only took ~3 weeks to actualy create work and/or save some jobs. Finaly some stimulus that actualy did what it was supposed to do, in a short amount of time. Link to comment Share on other sites More sharing options...
BrazilBoy Posted August 18, 2009 Report Share Posted August 18, 2009 "Government Motors" upped production which is good for the employees, but ounce I see the other non-government owned automakers upping production I will be truly convinced..I guess I am forever a skeptic.. ~Roberto Link to comment Share on other sites More sharing options...
Chad Posted August 18, 2009 Author Report Share Posted August 18, 2009 "Government Motors" upped production which is good for the employees, but ounce I see the other non-government owned automakers upping production I will be truly convinced..I guess I am forever a skeptic.. ~Roberto Ford Motor Co., Honda Motor Co., Toyota Motor Corp., Hyundai Motor Co. and Chrysler Group LLC all have announced production increases due to the clunkers program Link to comment Share on other sites More sharing options...
BrazilBoy Posted August 18, 2009 Report Share Posted August 18, 2009 Ok well then I guess I was wrong and this is helping the little guy which is my primary concern...Thanks for the update Chad.. Sincerely Roberto Link to comment Share on other sites More sharing options...
Chad Posted August 18, 2009 Author Report Share Posted August 18, 2009 I'm not going to say it's a $1 : $1 boost, it may turn out to be a poor investment in the long run. All I can say is it's doing what they hoped it would do. I'm sure a lot of struggling households are happy to see this... Link to comment Share on other sites More sharing options...
strang3majik Posted August 18, 2009 Report Share Posted August 18, 2009 until the people that didn't have the money to buy a car, but did since it was cheaper...get caught up in there loan down the road Link to comment Share on other sites More sharing options...
slowquest Posted August 18, 2009 Report Share Posted August 18, 2009 QUOTE Ford Motor Co., Honda Motor Co., Toyota Motor Corp., Hyundai Motor Co. and Chrysler Group LLC all have announced production increases due to the clunkers program. If Ford, Honda, Toyota, and Hyundai accepted GOVERNMENT money on the clunkers program, then they also fall under the same umbrella. They are being supported by OUR tax dollars. Link to comment Share on other sites More sharing options...
Chad Posted August 18, 2009 Author Report Share Posted August 18, 2009 Have you tried to get credit lately? If you couldn't afford to get a car or couldn't get credit 3 months ago, you can't today either. Having a down payment doesn't do much to that equasion. If this program made it suddenly possible financialy speaking to buy a new car, then you can obviously afford it. Link to comment Share on other sites More sharing options...
IntercooledFlatty Posted August 18, 2009 Report Share Posted August 18, 2009 "Government Motors" upped production which is good for the employees, but ounce I see the other non-government owned automakers upping production I will be truly convinced..I guess I am forever a skeptic.. ~Roberto whats on YOUR mind Roberto :biggrinumbrella1: Link to comment Share on other sites More sharing options...
Chad Posted August 18, 2009 Author Report Share Posted August 18, 2009 If Ford, Honda, Toyota, and Hyundai accepted GOVERNMENT money on the clunkers program, then they also fall under the same umbrella. They are being supported by OUR tax dollars. did you accept your economic stimulus check in 2008? did you spend it? Guess that means you spent my tax $$$$, you fool Link to comment Share on other sites More sharing options...
BrazilBoy Posted August 19, 2009 Report Share Posted August 19, 2009 whats on YOUR mind Roberto :biggrinumbrella1: Well this is a small push....but in the long run in which direction..Only time will tell if this is of any substance to our economy..Back when the Freddie and Fanny disaster were first started the economy got a push aswell in the right direction but the long term is what we have today..Although one can easily reason that this is noncomparable to that catrastophic plan..It will gain a glimpse into this hold no bars toss of taxpayer money into the eonomic pit that is currently being dug into an abyss from which there seems no end.. Sincerely Roberto Link to comment Share on other sites More sharing options...
Chad Posted August 19, 2009 Author Report Share Posted August 19, 2009 The 2008 economic stimulus was 50 times the cost of this program, How well did that work ? (it's still hard to say) Link to comment Share on other sites More sharing options...
BrazilBoy Posted August 19, 2009 Report Share Posted August 19, 2009 The 2008 economic stimulus was 50 times the cost of this program, How well did that work ? (it's still hard to say) Correct and Obamas version was much much larger and yet no response from the economy either.. This C4C program has shown one thing to be true when you give folks tax breaks aka money in thier pocket they will spend..I say let gov. go bankrupt and let the people keep thier hard earned cash... Tax cuts work, I say give business's small and large a tax cut for every person they hire.. This will get people employed and get them spending which will be its own stimulus.. Link to comment Share on other sites More sharing options...
slowquest Posted August 19, 2009 Report Share Posted August 19, 2009 did you accept your economic stimulus check in 2008? did you spend it? Guess that means you spent my tax $$$$, you fool Come on now, you know that's different. It was a tax rebate, I just got back money I had already sent in. (or would have sent in the next year, I don't remember the exact terms of that) However, I will say that I purchased a house last month, which would qualify me for the 8k thingy. I did refuse to fill out the form at the realtors office. Both of the realtors and the title guy looked at me like I was nuts (which I will not debate, lol) but I truly feel that I don't "deserve" that money just because I bought a house. I will however, take all the tax deductions on interest and the energy star appliances and such that I had to purchase. Link to comment Share on other sites More sharing options...
Shelby Posted August 19, 2009 Report Share Posted August 19, 2009 this needs to be put in prospective,, cash for clunkers is only helping that part of the people that ARE in a position to buy a new car , now just how can this help thoe vass majority of those with out jobs, i'm not talking about the workers laid off by the car manufactours,, that does cover a lot of people but by no streach of the emagination all those liad off,, it does nothing for the IT and suport guys laid off , or workers in unrelate'd fields of employment ,, and once those that were in a position to buy a new car have done so,, hows this gona add to that number,, only a set number of people are able to buy,, next yr the ones that have bought are not going to buy another one,, in fact most will not for 5-6 yrs the car makers bring back X amount of workers to build more cars but no one is going to be able to buy them so the layoff's will begin again unless they come up with another bandaid to assist people to buy cars they can not afford last week i took the wife to the mall to do some shoping for her,, we went into several big store, sear's, bell's and a couple others,, big stores,, that 10 years ago had 5 to 10 floor sales people working to help you,, each store had "2" employees working the entire store the one thing i notice'd right off was the people in the mall were not the normal locals you'd expect to see,, most were out of country here on vacation , India , mexico or who knows where but deff not locals we can not continue to be a nation of consumers we must go back to being the worlds largerest manufactour of products not just users ,,esp if what your are buying is made in other countrys not here buying new cars is not gona save our economy Link to comment Share on other sites More sharing options...
Burton Posted August 19, 2009 Report Share Posted August 19, 2009 until the people that didn't have the money to buy a car, but did since it was cheaper...get caught up in there loan down the road This is my big fear too. And I don't want to hear the whole deal about it being used by only people whom have the credit to do it. In this economy, I've seen the same thing over and over. Someone gets a new house or car, fully able to afford it. Due to layoffs, time at work being reduced, or other emergency bills, they can't and default on their loan. At one point EVERYBODY who got a loan was approved for it, yet due to circumstances beyond their control, they could not afford it. Happened to me. I had stellar credit and my own house, but when the economy tanked as well as my trade I was left getting laid off from shops that kept closing their doors, and when I finally decided to get out of the state and head for a more economically stable one, I couldn't even sell my house for 2/3 what I owed, which was a little more than half of what it was worth. It went back to the bank and my credit is now shot- after I made my payments on time for years, and even made double payments regularly. My point is, bad things happen to people who have been sailing along just fine and have the best credit. Granted, the lending institutions are being much more critical who they give loans to, but that's not going to stop it. It will just mean that people who started out with better credit will suffer. I've talked to a number of people who.... ...Either got into the CARS program because they had the credit, and a job, but bought a car that they really couldn't afford at the time but couldn't afford to pass up the deal. All it will take for those people is one unseen change in events, and they will no longer be able to afford it and will default. ....Or were going to buy a new car in the next year or two but jumped at this opprotunity. This is better than defaulting loans for sure, but now anyone who knew they would be needing a car in the next couple years bought one. That means after the CARS program is done there will be all those years of car sales that won't happen because they already did. And we thought the automakers were struggling BEFORE this program came along The second one is almost as bad as the loan defaulting. Two years of less production than they were puting out before CARS, will be the straw that broke the camel's back for both GM and Chrysler, I fear. Link to comment Share on other sites More sharing options...
Chad Posted August 19, 2009 Author Report Share Posted August 19, 2009 now just how can this help thoe vass majority of those with out jobs, i'm not talking about the workers laid off by the car manufactours,, that does cover a lot of people but by no streach of the emagination all those liad off,, it does nothing for the IT and suport guys laid off , or workers in unrelate'd fields of employment ,, It was never supposed to do that If you want a program to do that, it will cost a LOT more than $1-3 billion !! It's just one of many things being done. On the economic stimulus, a LOT of people got out way more than they put in! Do you think those poeple didn't or shouldn't benifit from that? maybe you shoudl look at this as a tax rebate for all those companies that will benifit from this. Not one of them did not pay their taxes, so why don't they get a rebate too? Business got shafted on the 2008 stimulus rebate. So if you spent your rebate, where did you spend it? Say for example you spent it all on a new Sony flat screen and sterio system at best buy, wouldn't your logic indicate that best buy and Sony got a big tax payday and you got shafted? Where does the difference lie? I spent mine at Lowes (remodelign our house at the time) I guess lowes got all the $$ and I got nothing but a bigger tax bill, right? It's all in your you choose to look at it (there are many angles). Link to comment Share on other sites More sharing options...
patra_is_here Posted August 19, 2009 Report Share Posted August 19, 2009 tax cuts don't work. if you give everyone more money, all you're going to do is increase inflation, and then all the extra money won't be worth anything again. Link to comment Share on other sites More sharing options...
BrazilBoy Posted August 19, 2009 Report Share Posted August 19, 2009 tax cuts don't work. if you give everyone more money, all you're going to do is increase inflation, and then all the extra money won't be worth anything again. and printing money to cover all this "stimulus" stuff won't increase inflation??? Tax cuts work, thats how we got out of the Jimmy Carter disaster economy was by letting the people who earned the money actually keep most of it.. Who is more responsible with your money you or the government? This impression that gov. can do it better has been always proven to be wrong.. I like the money to stay where it belongs in the hands of those who earn it..taxes will always exist, but these people in DC work for us and we need to determine thier salary or expence account not the other way around.. Link to comment Share on other sites More sharing options...
Chad Posted August 19, 2009 Author Report Share Posted August 19, 2009 Again, it's perspective. You can get tax cuts if you are poor (food stamps, earned income credit, the sliding tax scale etc.) You get tax cuts if you open a new minority owned business You can get tax cuts if you donate to charity You can get tax cuts if you buy a house You can get tax cuts if you are disabled You can get tax cuts if you are a veteran You can get tax cuts if you buy energy star ratedt products You can get tax cuts if you buy certain hybrid cars You can get tax cuts if you install "green" power generators You can get tax cuts if you have a business loss You can get tax cuts if you are in certain professions You can get tax cuts if you develop/build in targeted areas You can get tax cuts if you lend in targeted areas You can get tax cuts if you were in a specified natural disaster You can get tax cuts if you are a vitcom of certain terrorsit attacks This time You can get tax cuts if you buy a certain type of car and also turn in an certain type of car. The rebate for CARS is $$$$ the government pays the dealer on your behalf. You may not see it in your hands, but it's your $$$$ legaly speaking. Many benifit from it, but ultimalty the consumer stands the chance to benifit the most (depending on what car they turn in and what they buy). Most tax cuts you have to wait untill you file to get the benifit, this one you get right at the time of purchase. I guess I don't see how buying a car though this program and getting $4500 off the top doens't constitute a tax cut. You pay into the system all your working life, this time you get something back, all you have to do is jump though a few hoops, just like every other tax cut. In some ways it's just like food stamps for single mothers with small childeren, except it's for car buyers needing a reason or assistance to buy car today when the industry needs it most. Maybey they shoudl have called this "car stamps" and given you all a whole packet of paper vouchers LOL. Don't complain about tax cuts that you dont' qualify for, I bet most of you don't qualify for most of those other tax cuts I listed above either... If you are going to complain about CARS, what about the rest of the tax cuts you don't get? Link to comment Share on other sites More sharing options...
Chad Posted August 19, 2009 Author Report Share Posted August 19, 2009 However, I will say that I purchased a house last month, which would qualify me for the 8k thingy. I did refuse to fill out the form at the realtors office. Have you paid $8000 in federal taxes in your life time? Think of it as your own personal refund for $$$$ you have overpaid. It is your $$$$, they have just been usign it for other stuff all this time. Here is your chance to get it back. Link to comment Share on other sites More sharing options...
jisleyjr Posted August 19, 2009 Report Share Posted August 19, 2009 However, I will say that I purchased a house last month, which would qualify me for the 8k thingy. I did refuse to fill out the form at the realtors office. You aren't going to claim this when you file in 2010? Serious? Take that money and spend it on your house, build a deck or a shed or a fence, plant some trees, new frig, donate the old one to a friend in need, washer and dryer, donate it all to a local charity, do something with it. Not taking it does not make any sense to me. Link to comment Share on other sites More sharing options...
slowquest Posted August 19, 2009 Report Share Posted August 19, 2009 There's just something inside me that says taking that money is NOT the right thing to do. I guess I need to contemplate it a bit more, because I've talked to NO ONE yet that thinks what I'm doing is the right thing, everyone has said "take the money" Link to comment Share on other sites More sharing options...
Chad Posted August 19, 2009 Author Report Share Posted August 19, 2009 If you were a welfare moma and never paid into the system, that is one thing... You are an upstanding citizen that has done his share to support his country by paying into the "system". The "system" has come up with a "reward" for certain activities that benifit the greater good (the housing industry), that reward is called "first time home buyer credit" and it's designed to promote buying homes in a devistated home market. It was made for people like you... If you don't want it, I'm sure others will be glad to spend it on some "pork project" elsewhere. You know it will get spent either way... I have my opinion, but I do support your choice, It's noble on the surface. Just be sure what is really behind your choice is something you won't regret later. I see it like takign that last piece of cold pizza before it gets thrown out, you may not have paid for it (this time), but you know it's not going to do much good in the garbage either... Link to comment Share on other sites More sharing options...
Recommended Posts