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cash for clunkers

Congress proposed a policy last week that would pay you up to $4500 on a gas guzzling trade-in, applicable towards a new fuel efficient vehicle.  On the surface, this sounds great: getting those pollution spewing cars off the road and replacing them with efficient gas sippers, which  “would reduce our dependence on foreign oil, decrease greenhouse gas emissions and stimulate the economy.”

Or maybe not.  I think this policy’s a clunker.  Here’s why.

[read the full article...]

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