Whether or not to bailout the beleaguered auto industry was all the talk of the Sunday talk shows. Most folks think the American Auto industry has been playing a poor game of catch up to Asian car markers and has caused most if not all of the problems they find themselves in. While their is a huge consensus for the causes of the auto industry debacle, the real debate centers around whether or not the government should bail them out. Lots of different bailout schemes are being touted, but none of them seem to have much to offer the American Public. So here is my suggestion, if we want to save our auto industry, let's give every American who buys an American car a $2000 refundable tax credit in the year of purchase--in addition, why not guarantee car loans to qualified buyers at a 6 percent interest rate. If folks could get a car loan at 6 percent and a $2000 refundable tax credit for buying American made cars, we'd all be lining up to trade in our cars for new ones. Everybody wins.
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