While the government touts the cash for clunkers program as a success, with a reported 700,000 new vehicles sold, there seems to be an underlying plan with the Obama administration. A plan seemingly focused on furthering the green agenda, not only by removing thousands of gas-guzzling vehicles, but now with the introduction of removing energy-hogging household appliances.
Help would come in the form of rebates valued from $50-$200 from the Department of Energy that has already been approved for $300 million from the stimulus plan earlier this year. While you will hear that this will only help the economy, it’s what they fail to tell you up front.
Those unsuspecting individuals that bought vehicles under the clunker program are only now finding out that their rebate will be taxed as taxable income.
However, the debate over the green agenda raises some concern with people. It’s not the fact that everyone wants to waste energy, but more so that the government is stepping in and throwing so much money around. People are realizing the amount of wasteful spending and are getting frustrated.
First, it was the banks. Second, the auto industry. Third, the auto industry again. Billions of hard-working taxpayer money has been tossed at these faltering companies.
Two companies that seem to be doing quite well are the two appliance super-companies, Whirlpool and GE. Whirlpool is the leading company, while General Electric draws unwanted attention pulling them to the number two spot.
Unlike the auto industry, the top two appliance makers are American and look to be the top winners with this new program. Another reason Americans are a little upset with the cash for clunkers program was that American auto makers failed to make the top three autos sold under the program. First and second were filled by Toyota, third was Honda, fourth was Ford, and fifth was Hyundai.
General Motors and Chrysler were the two that could have benefited the most, but failed to make the grade again.
The positive side the the clunker program is that it did spawn traffic to dealerships, but there is fear surrounding dealers that the little traffic they do have will become stagnant. A similar feeling could be faced by appliance stores at the end this new program, and quite possibly before it even gets going.
Some are quick to see that some things are too good to be true, while others are slower at noticing.