A Defense of Economic Liberty

Good stuff...

Item: The president-elect has also proposed refundable tax credits that represent direct cash grants from the federal government. As Daniel Henninger has noted, the Obama plan would "place some 48% of Americans ... out of the income tax system."

This would fundamentally alter the nature of citizenship itself. Almost half of all Americans would, in effect, have been made the recipients of a vast new entitlement. As that proportion grows, the nation would approach a tipping point.

I hate taxes as much as the next guy, but if almost half of americans aren't paying them, we're in real trouble.