Cash for Clunkers

Discussion in 'Business & Economics' started by Buffalo Roam, Jul 31, 2009.

  1. X-Man2 We're under no illusions. Registered Senior Member

    The Top Ten Cash for Clunkers Trade-Ins:

    1. 1998 Ford Explorer

    2. 1997 Ford Explorer

    3. 1996 Ford Explorer

    4. 1999 Ford Explorer

    5. Jeep Grand Cherokee

    6. Jeep Cherokee

    7. 1995 Ford Explorer

    8. 1994 Ford Explorer

    9. 1997 Ford Windstar

    10. 1999 Dodge Caravan

    The Top Ten Cash for Clunkers New Cars:

    1. Ford Focus

    2. Honda Civic

    3. Toyota Corolla

    4. Toyota Prius

    5. Ford Escape

    6. Toyota Camry

    7. Dodge Caliber

    8. Hyundai Elantra

    9. Honda Fit

    10. Chevy Cobalt
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  3. joepistole Deacon Blues Valued Senior Member

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  5. kmguru Staff Member

    He did not reference foreign cars - only foreign companies who take profit home!
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  7. joepistole Deacon Blues Valued Senior Member

    First you cannot take profit anywhere as it is a theorical number pulled from the realm of accounting theory. So you cannot touch profit, you cannot eat profit, nor can you invest profit. You can take cash and move it, trade it, invest it but cash is not profit. And j ust because cashflow is increased, it does not mean the cash is repatriated. It is frequently left in the country of origin and reinvested.

    Two, since manufacturing for those cars occurs in the US, the US economy directly benefited. It was American workers who made those cars. And it was Americans who recieved the value of the dollars spent on the Cash for Clunkers program.

    The bottom line is the dollars spent on Cash for Clunkers stayed in the US and it sustained jobs which was the goal of the program.
    Last edited: Aug 25, 2009
  8. kmguru Staff Member

    Fascinating. We have been taking profit from our partnership company in the form of cash for the last 10 years and it seems to be OK with the IRS. And we are eating the profit! imagine that...My friend in India has an office in the USA and he takes his profit back home so that he can expand his workforce and believe it or not eat and buy a BMW!

    What are you talking about?
  9. cosmictraveler Be kind to yourself always. Valued Senior Member

    No, I was asking why only the automobile companies getting all the money, why not spread it around instead of giving it to only 2 or 3 auto companies?:shrug:
  10. kmguru Staff Member

    My understanding is that the dealers get the money.
  11. original sine Registered Senior Member

  12. joepistole Deacon Blues Valued Senior Member

    Profit is equlivant to earnings on the income statement. Earning/profits are a device of accounting. You cannot spend or eat profits as originally stated. Companys have gone bankrupt all the time earning profits.

    One of the major objectives of accounting is to recognized costs when associated revenue for those costs are recognized. And if you are familar with business you know that costs and revenues do not always occur in the same reporting period. That is why profit is a therorical number. The methods used to match revenue and cost are often driven by other things like politics, taxes, etc. So agan profit is a theoritical number. Cashflow is a real number. You can eat cash, touch cash. You cannot touch or eat profits.
  13. Syzygys As a mother, I am telling you Valued Senior Member

    Buffy, not an original thought in your whole drivel. When will you stop listening to Fow News talking points???

    1. It was a success that's why they ran out of money.

    2. You trust the military to be run by the government, so why not health care?

    Oh, you are a moron...

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