quote: There's only ~15M cars sold per year in the US among 115M households. The vast majority of households paying less tax than that will be buying used cars.
quote: But after seeing how many poor people are willing to fork over the money for a new iPad, I don't try to predict what people will or won't buy anymore.
quote: That stat would only be relevant if people only kept a new car for a year. If the average duration of ownership for a new car is 5 years, then 15M/year in new car sales represents 75M households, or the majority.
quote: whats the difference between a $7000 tax credit and $7000 tax rebate??? you can only be credited on taxes you are required to pay, if you are required to pay 0 taxes you get 0 credit. If it were a rebate if you are required to pay 0 taxes you get $7000 back.
quote: you can only be credited on taxes you are required to pay