Can someone explain to me why the federal government has a right to give away taxpayer money so that people can buy new cars?
And, why is the rebate only for people who could buy a car this summer? I bought a new car last summer and traded in a clunker. Where's my $4,500? The arbitrary nature of the program doesn't seem fair, if you ask me.
But, at least it helped the automakers, right? Maybe. Or, maybe not. As Frank Ahrens of the Washington Post notes:
...it's unclear whether the program has actually robbed demand from the future, which means GM and Chrysler -- still on wobbly legs -- could face a serious sales decline next year...On a more positive note, at least we can feel good that the tax money we paid to Uncle Sam in April has proven to be so popular when given away for free!
After all, as Joe Biden says, paying taxes is "Patriotic."
Are you feeling "Patriotic" today?