Tuesday, August 4, 2009

Cash for clunkers - "read my lips - no new taxes"

Cash for clunkers received a 2 billion dollar infusion from the Senate last week. Apparently the program is so popular, dealers are overwhelmed with the influx of individuals wanting to get rid of their gas-guzzling vehicles.

I have driven my share of gas guzzlers over the years, I am embarassed to say. Mostly it was out of necessity - I had four children and needed a large station wagon to get them around from point a to point b. Today, there are many more options for parents, as Hybrids and other fuel-efficient vehicles are on the market and at a reasonable cost.

It is questionable how long the program will remain in place, given its hefty price tag.

Some are wondering whether the President will find himself like Bush senior, having to renege on a campaign promise not to raise taxes on the middle class - that would be those earning $250,000 a year or less. While I now work part time and am headed back to college in the fall, I am no longer considered middle class, but will watch these developments carefully.

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