Bloomberg is reporting that the automakers, not content with umpteen billion dollars from the government have now come up with two new suggestions on how to spend your money. They are suggesting that the government give a tax deduction for new car purchases and also consider a program to have the government back a program that scrapped older cars to boost new car sales.
Toyota Motor Corp. and Chrysler LLC said federal income-tax deductions for interest on car loans could help stem the slide that sent U.S. sales to their lowest monthly total since 1991. General Motors Corp., the biggest U.S. automaker, also said today it had studied the idea of boosting auto demand through a government-backed program to encourage scrapping older
vehicles.
What can you say? The sad thing is that these tawdry people may well get a hearing from our elected officials.
Tom Lindmark
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