Sens. Dianne Feinstein, D-California, and Susan Collins, R-Maine, slammed the House bill offering cash incentives for traded-in autos, claiming that Detroit auto industry lobbyists have jacked the proposal and turned it into "another big bailout" for gas guzzlers.
Another Obama scam...
60% of the cars that are currently donated to charity will now be eligible for a $3,5000 or $4,500 voucher under the cash for clunkers program. Since the tax deduction for donating a car is only $500 or what the car sells charities won't be able to compete with the program and charitable car donations will end.
A better idea is to change the amount a person can deduct for donating their car back to the book value. That way every car is eligible, the government doesn't have to spend $4 million of our dollars giving away vouchers and trying to administer a program that is way too convoluted!
This new scam "requires consumers to trade up for more fuel-efficient cars and trucks to qualify."
Trade up?
That's a stretch...
My BMW for a tuna can?
Sorry Charlie, I'll keep my import!
