Yes but…
The credits are gimmicks that can be easily taken away once the big shift to AGI is in place. Besides, the credit scheme runs directly contrary to the Clodfelter et al argument that the income tax package makes compliance easier and less burdensome. The credits require exactly the same computations as federal taxable income, and then some.
This is why I say the big picture, the actual story on the income side, should be tiny reductions in income tax rates twinned with massive increases in taxable income for most middle-income taxpayers.
Speaking of middle-income, that top rate still kicks in at a whopping $60K of AGI. How very forward looking.
