And now the rest of the story, Edmunds.com calculates that only a fraction of the sales were caused by the govt initiative, the rest would have happened anyway, no wonder the White House is upset, gee, facts get in the way.
Professor Elam
Accounting & Investing Info for San Antonio A & M
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2 responses to “Cash for Clunkers costs $24K per car!”
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Do you also know that those that participated in the cash for clunkers program will have to clam the amount of additional trade in they received as earned income on their federal tax returns for 2009? Most peopler were not aware of this. It came out after the fact
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John
Well done, this sort of insight along with just being nice folks has made our students sought after commodities, yes that will not be so much fun when the tax bill hits along with the continued monthly payments.LikeLike
Professor Elam 
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