Daniel J. Mitchell of the CATO Institute wrestles with the lack of no historical data to support the Starve the Beast model, only to find out that it’s because politicians have never really given it a shot.
Tax credits are much more valuable than tax deductions. Deductions only reduce the amount you are taxed on. One dollar of deduction might only be worth 35 cents. In contrast, tax credits are a dollar-for-dollar reduction in your tax bill. And a refundable tax credit could mean the government will owe you money you never paid in the first place.