Could this be the next bubble to burst after the housing bubble?

And considering there were many out there complain about a recent fat tax rumor out there. Some saying why should they have to pay because some people did not take care of themselves and become fat so now they should pay more taxes for being fat, why should anyone have to pay so that someone can buy a new car? How many more welfare programs are we gonna create?

I don't know that it was good or necessary but it is giving car sales a shot in the arm that they desperately need. 

You do realize that many, if not most of the cars being purchased were foreigh cars? I don't know about you but I think this program could have been done a bit better if it focus more on improving the economy locally as oppose to outside the US. They should have put a provision where the cars had to be American. I don't understand why we are pumping tax payers money into foreign vehicles when our own car companies are still struggling compared to them.

They could have give the taxpayer back some of the money they paid in. Then let them decide if they want to spend it on a car or whatever they want. As it stands it is a subsidy for anyone that probably was going to buy a car anyway.

OP. allow me to correct you..

Cash for clunker, another bubble that is GUARANTEED to eventually burst (like all bubbles)

Has anyone thought about who is making out here?  IT's NOT the buyer.  It's not us, the taxpayer.  It's not GM or the dealers in trouble because people are putting their money into the companies that are doing ok. 

So you get cash back for your older gas guzzler trade-in but the dealers are not giving out any incentives so what's the big deal here?  Instead of incentives and marked down prices, you get money back from the government.  

We bought a new car just a few months ago and got a great deal.  The diff between the gas mileage now and the one we had in our Subaru wouldn't have been enough to get the full $4500 that is now being offered so we would have been given just a portion of that amount.  I think we did better without the freebie money from the government by getting more incentives from the dealer including three free oil changes along with a reduced price and $3,500 trade-in for the Subaru.   We didn't talk trade in until we talked reduced price on the Elantra we were buying. 

You know who's going to hurt the most?  The poor people and college student looking for those $500 clunkers that are being needlessly crushed when they could be driven instead. 

Now that is something very few people have spoken about. I understand the purpose of removing these cars and replacing them with better cars, but what about those who can not afford new cars? Who need cheap cars just to make ends meet? Are we gonna Welfare cars for them as well? This is just too crazy.

Nobody is making out here... Communism makes everyone poorer, capitalism makes everyone richer.

This plan harms everyone for a chance at pursuing a failed and retarded and downright dangerous ideaology... it is a stab against the internal combustion engine, it is democrats cheering as they DESTROY perfectly serviceable EQUIPMENT because they beleive it to be evil. No different than if they had melted down guns... speaking of, I just heard... dallas i think, has had great success with its "50$ for your gun" program and will ramp it up... to get "evil guns" off the streets.