More cash for clunkers

The U.S. Senate topped off the “cash-for-clunkers” program last week, just before the program burned its final fumes.

Although, come to think of it, the term “topped off” probably isn’t the most apt way to describe spending $2 billion.

In our view, cash-for-clunkers — also known as CARS, an acronym for Car Allowance Rebate System — is a tax rebate. And we’re all for those.

We’re surprised, frankly, that some conservative commentators, who tend to complain that the government takes too much of our money, object to CARS.

The program gives owners of fuel-quaffing vehicles a $3,500 to $4,500 credit if they buy a brand-new, more fuel-efficient model.

CARS has proved considerably more popular than Congress expected.

During the program’s first week, customers bought about 185,000 new vehicles and claimed most of the $1 billion Congress set aside and anticipated would last about four months.

The additional $2 billion should keep CARS running through Labor Day.

Some critics argue that Congress should simply give money directly to taxpayers, rather than limiting the credits to people who swap a used car for a new one.

But Congress tried that last spring and the tactic failed to revive the economy.

CARS, by contrast, targets one sector of the economy for which taxpayers have already shelled out billions — and for no apparent benefit.

Congress gave those billions to General Motors and Chrysler, and what did taxpayers receive in return? Bankruptcies and the closing of a couple thousand dealerships.

The CARS program, meanwhile, helped automakers sell 185,000 vehicles in one week.

And although Toyota, Honda and other foreign makers are eligible for the program, almost half of those sales — 45.3 percent — enriched the coffers of GM, Ford and Chrysler.

It seems logical that the better way to rescue those ailing corporations is to help them sell cars, not hand them blank checks.

Taxpayers, meanwhile, besides having new, warrantied cars to drive, will save on fuel.

A person who, for instance, traded a 15 mph rig for a 30 mph sedan, and who drives 12,000 miles per year, would save about $1,000 each year.

Which, by the way, is more than an individual received from the 2008 federal tax rebate.