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Wonderful example so assuming some social and economic provisions ought to be in the tax laws, lets think about tax credits. Every dollar of tax credit saves you one dollar. It doesnt matter what your marginal tax bracket is. So if you owe a thousand dollars and you get a thousand dollar tax credit, you dont owe anything. If you owe a million dollars, you owe a million minus 1,000. Now, the tax credits also should be refundable in many cases where they are social programs because a refundable tax credit like the earned income tax credit which says people who are working but dont earn a living wage are going to get extra money to help them have a living wage. And so if you make it refundable if you dont owe the income tax, youll get a direct grant. Both commissions said that about the Home Mortgage interest deduction, replace it by a credit. Congress ignored that. Finally, you might have the largest credit for people who need the help most and the least credits for people who need the h

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