Klunkers, a staple of the low-cost used car market

"Clunkers” don’t play much of a role in the lives of upper- and middle-income Americans, I suppose, but they play a major role in the auto market for low-income Americans. What the federal government is now doing is using taxpayer dollars to subsidize the large-scale destruction of functional cars that would otherwise exchange hands one or more times in the used car market. This will make it harder for poor folks to purchase cars in the future. It’s an income transfer up the income distribution, at the behest of so-called progressives."