The “cash for clunkers” bill before Congress was supposed to give drivers a voucher of up to $4,500 when they trade in old gas guzzlers to buy far more fuel-efficient vehicles. The idea was to reduce “global warming” by shifting to cars that burn less fuel. Or at least that was the lure to build political support for the costly giveaway of taxpayer dollars.
But it was all bait and switch. Now, it looks as if cash for clunkers will still give away billions of dollars but may not have any environmental benefit.
President Barack Obama and his fellow Democrats in the House of Representatives have struck a “compromise” on the legislation. How much better mileage would the allegedly more fuel-efficient vehicles have to get for buyers to qualify for the trade-in subsidy? Take a look:
* A traded-in car that gets just under 18 miles per gallon would be worth a $3,500 voucher if the driver then purchased a car getting 22 miles per gallon. The subsidy would rise to $4,500 if the newer vehicle got 10 more miles per gallon.
* The owner of a small truck or SUV would qualify for $3,500 if the new truck or SUV got only 2 more miles per gallon. A 5-mile-per-gallon improvement would merit a $4,500 voucher.
* And the owner of a large truck would get $3,500 on trade if he “upgraded” to a new truck that gets just 1 mile per gallon higher mileage!
This is literally highway robbery of the taxpayers. It would in many cases pay higher values for broken-down vehicles than they could possibly bring in the free market. Even if you buy the theory that the burning of fossil fuels is catastrophically increasing Earth’s temperature, this boondoggle would do practically nothing to reduce fuel consumption. And it would be funded through yet another subsidy that is not even constitutional.
Congress ought to take this proposal to the scrap yard.
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