And Jordan, the government is already taking money from everyone who contributed and saved wisely and distributing it. I am just offering up a better solution to that issue.

@Nick
In Japan the government forces you to trade in your cars after 5 years, for 2 reasons. 1 it stimulates demand for cars locally made, and 2, it supposedly reduces accidents and traffic problems. They push #2 as the primary reasoning.
Regarding the credit crunch/addiction issue, I completely agree, people need to have slightly tighter credit allowances. But people also need to be educated better on credit issues. Too many people still think its free money. Maybe everyone should be forced to carry their money in cash, in gold dubloons, so its heavy and tangible.

And Jordan, the government is already taking money from everyone who contributed and saved wisely and distributing it. I am just offering up a better solution to that issue.

@Nick
In Japan the government forces you to trade in your cars after 5 years, for 2 reasons. 1 it stimulates demand for cars locally made, and 2, it supposedly reduces accidents and traffic problems. They push #2 as the primary reasoning.
Regarding the credit crunch/addiction issue, I completely agree, people need to have slightly tighter credit allowances. But people also need to be educated better on credit issues. Too many people still think its free money. Maybe everyone should be forced to carry their money in cash, in gold dubloons, so its heavy and tangible.

The idea of creating more debt for Americans seems like a really bad one to me. I believe one of the fundamental problems that has led us to where we are at today is our addiction to credit. Too many of us are spending money that we don’t have, your plan would only perpetuate this problem.

The other problem with this idea is the people that your plan claims will be eligible for the credit can’t really afford the purchase. One of the reasons they are driving cars that are 10 years old and worth less than $5k is because that is simply all they can afford.

The idea of creating more debt for Americans seems like a really bad one to me. I believe one of the fundamental problems that has led us to where we are at today is our addiction to credit. Too many of us are spending money that we don’t have, your plan would only perpetuate this problem.

The other problem with this idea is the people that your plan claims will be eligible for the credit can’t really afford the purchase. One of the reasons they are driving cars that are 10 years old and worth less than $5k is because that is simply all they can afford.

Where does the $25,000,000,000 come from?

It comes from taxpayers. So, what you are essentially proposing is that you take money from everyone (including those who are saving wisely), and give it to people who are buying new cars.

The problem is that the people that are buying new cars are some of the same people that got us into this mess in the first place. When they buy the new car, is it financed? Does the consumer go into debt just to get a shiny new car, when his old one was getting him from A to B? If yes, then the problem is exacerbated.

I drive a car that is almost 15 years old. It suits me fine. I’m saving my money so that one day I can buy a new car. But this proposal eliminates that choice for me. My income and savings are going to fund other people’s new cars. Morally, I think that is wrong.

Sure, some of them have saved, too. Good for them. They are able to buy the car that they deem most valuable for themselves. And that is their choice.

I agree with you that bailing out failed automakers is not smart. But in my opinion, giving consumers money to buy new cars (foreign or domestic) is not smart, either. What we need right now is contraction, not expansion.

C.R.E.A.M.

Where does the $25,000,000,000 come from?

It comes from taxpayers. So, what you are essentially proposing is that you take money from everyone (including those who are saving wisely), and give it to people who are buying new cars.

The problem is that the people that are buying new cars are some of the same people that got us into this mess in the first place. When they buy the new car, is it financed? Does the consumer go into debt just to get a shiny new car, when his old one was getting him from A to B? If yes, then the problem is exacerbated.

I drive a car that is almost 15 years old. It suits me fine. I’m saving my money so that one day I can buy a new car. But this proposal eliminates that choice for me. My income and savings are going to fund other people’s new cars. Morally, I think that is wrong.

Sure, some of them have saved, too. Good for them. They are able to buy the car that they deem most valuable for themselves. And that is their choice.

I agree with you that bailing out failed automakers is not smart. But in my opinion, giving consumers money to buy new cars (foreign or domestic) is not smart, either. What we need right now is contraction, not expansion.

C.R.E.A.M.