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So let's list out the problems.
It takes away vehicles that the poor can afford.
The govt is subsidizing the purchase of vehicles and if someone buys GM, they benefit.
It rewards people who bought stupid low fuel efficiency vehicles in the first place. My Integra, 33-35 mpg. My Subaru, 25 mpg. I didn't buy crapola low efficiency vehicles so I don't get rewarded.
It encourages more financing and more lending.
Vehicles are a depreciable asset. They lose value.
Why only vehicles? My 10 year old Integra with 130k miles is in great shape. How about credit for a new washer/dryer, or a new tv. Shit, I have been looking at home speakers in the 1,000 to 1500 range for a year. I'll take a credit for that, and I will still be listening to them 20 years from now.
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