Chevrolet Corvette Stingray C7 Forum - View Single Post - Volt pricing announced. Starts at $41,000*

grip750 · 07-31-2010, 10:32 PM

$7,500 Tax Credit (that is BS) That comes out of what you paid in taxes. So if you pay $6,000 in income taxes for the year and got back $3,000 after filing your 1040, that means you can only get what is left after that. In that case your credit then would be $3,000.
It is all a numbers game. 47% of Americans last year had no tax liability (meaning the government kept some of the money you sent in). That means only 53% of Americans can get any kind of credit. So a guy making $40,000 a year and having $100 a week being taken out of his paycheck for Fed Income Tax, paid in $5,200 for the year. He then gets back an average of about $2,200. Leaving $3,000 for the tax credit for the Volt. I will stick to my Camaro.....

07-31-2010, 10:32 PM	#214
grip750 Drives: 2SS Victory Red Join Date: Oct 2009 Location: FL Posts: 91 View My Garage	$7,500 Tax Credit (that is BS) That comes out of what you paid in taxes. So if you pay $6,000 in income taxes for the year and got back $3,000 after filing your 1040, that means you can only get what is left after that. In that case your credit then would be $3,000. It is all a numbers game. 47% of Americans last year had no tax liability (meaning the government kept some of the money you sent in). That means only 53% of Americans can get any kind of credit. So a guy making $40,000 a year and having $100 a week being taken out of his paycheck for Fed Income Tax, paid in $5,200 for the year. He then gets back an average of about $2,200. Leaving $3,000 for the tax credit for the Volt. I will stick to my Camaro.....