I haven't checked the numbers but interesting.....also they (Gov't)
said it stimulated car sales which it did but much misleading info!!!!!
A vehicle that gets 15 mpg and does 12,000 miles per year, uses 800
gallons of gasoline
(Government definition of a Clunker)
A vehicle that gets 25 mpg at 12,000 miles per year, uses 480 gallons
So, the average clunker transaction will reduce US gasoline consumption
by 320 gallons per year.
About 700,000 vehicles were part of the Government's program, saving
224 million gallons per year.
That equates to just over 5 million barrels of oil.
5 million barrels of oil is about ¼ of one day of US consumption.
5 million barrels of oil costs about $350 million dollars at $75/bbl.
So we all contributed, through our taxes, over $3 billion... to save
They'll probably do a great job with Health Care though!
This was forwarded to me in the email.
The rebates are taxable income, too.
11 months ago