Basically it's a tax cut to anyone who buys a car. The only problem I see with it is the government is deciding here what the people get a 'tax cut' for. If you buy certain cars, and trade in certain cars, you can take advantage of this program.
However, I would tackle the situation a bit different. I would give every person in the country a tax cut of $4,500 and let them buy anything with that money they wanted. Heck, I'd even allow then to save that money if they wanted.
Think about it. Think about how many consumer goods would be purchased with $4,500 per U.S. citizen (tax payers only). And that's money that would go into the economy right now, as opposed to the Obama Stimulus Plan which has only spend 10% or so of the billions allocated to it.
That's the difference between the Conservative mindset and the liberal mindset: Liberals like to make decisions for us, while conservatives like to allow people to decide for themselves. But, as we all know, liberals are smarter than all of us.
That said, I think the cash for clunkers program is a step in the right direction. Although the program has not come without its problems. As Pete Hoekstra (R)*, said recently, if the Federal Government can't handle a $1 billion cash for clunker program, how is it going to handle a $1 trillion health care program."
He said computers have crashed and dealers who have sold over 40 cars haven't received an iota of cash from the state. It's been a mess.
But, that's the way the government runs programs. We know that from history. Perhaps Conservatives are on to something when they say, "Let the people decide what to spend their money on."