The Right Way to Bail Out Ford, GM, and Chrysler

The government shouldn't bail them out but if they are going to (and they are), this is how they should do it.

Instead of the $25 billion bandaid, which is really only meant to bail out the union's bloated pension and benefits fund, they should help the big three get what they need most, customers for their product. Once the parties involved agree to a 40% pay cut for every single employee, at least until a return to profitability, to get rid of all the private jets and other extravagant bullshit they have, and present a revamped business plan, the government should offer a one time $20,000 tax credit to anybody that buys a new GM, Ford, or Chrysler. Here's why;
1. If they sold even 1 million cars (extremely unlikely), and every person that bought one was in the highest tax bracket (even less likely), it would cost only $7 billion. (20,000 x 35% x 1,000,000)
2. Instead of just saving the union pension fund, it would save the union jobs and it would save thousands of jobs at dealerships across America. More people still working are more people to help fuel the economy
3. The newer cars get better fuel economy, less emissions, and much safer than the older cars that people would be getting out of.
4. The massive sales increase would generate the revenue those companies need to survive.

Makes sense to me, how about you?