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In 1960 only 15% of federal income tax returns had a zero tax liability, due mostly to low taxable income, a standard deduction, the personal exemption, the dependent exemption, and the Earned Income Tax Credit (a direct subsidy to people for being poor).
FORBES: Representation Without Taxation - So Where's the Outrage?
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Mr Bush is therefore proposing to introduce a tax credit which would allow people to direct their tax payments to charities rather than to the government.
ECONOMIST: Preparing America for compassionate conservatism
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This week the Supreme Court rejected that equivalence, ruling that an Arizona tax credit differed enough from a comparable direct spending program to deny taxpayers the right to sue on the basis that the credit represented an unconstitutional government activity.
FORBES: Supreme Court Says Tax Expenditures Aren't Government Spending
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Gold makes no false promises to cure unemployment, direct credit to the unworthy, juice a slack economy, boost exports, deliver stealth tax hikes, erode unfunded liabilities, or all the other things that fiat currency advocates promise.
FORBES: Ben Bernanke's Lone Positive Legacy: A Return To The Gold Standard
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Just 13% of households said the 2009 tax credit would lead them to raise spending, compared with 25% who said they would spend direct payments in 2008, according to research by economists Joel Slemrod and Matthew Shapiro of the University of Michigan and Claudia Sahm of the Federal Reserve Board.
WSJ: Package Would Give Obama Stealthy Stimulus