4 ms·
Cash for clunkers was only tenable because the recipients of the cash were predominantly the working poor. Even then, economic conservatives howled at the prog
by brandmeyer 5y ago
Cash for clunkers was only tenable because the recipients of the cash were predominantly the working poor. Even then, economic conservatives howled at the program for its destruction of capital.
- Scoundreller 5y agoThe first recipients were new car buyers. Hardly the working poor. You could argue those buying new cars bought clunkers from the working poor for their above-market trade-in value, but that only works for the poor if they didn’t need to replace that clunker because everything used went up in price.