Congressman Ron Paul intelligently points out in this video that the Cash For Clunkers program will hurt the poor the most, because it destroys the vehicles that poor people depend on.
He also tells this story about economic stimulus in general: "Imagine someone had a new business that needed customers, and to get new customers, they took money out of their savings account, walked out onto the street and started handing out money to people telling them 'you can have this money as long as you spend it in my store'. And so they come to the store, spend the money, and the owner rings up the cash register and says 'wow, today I made a lot of money'. This whole notion that government can stimulate the economy is just as absurd as that."
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