As I explain here , Tax Policy Center researchers calculate that 16.7 million elderly households will pay no tax in 2011 because of those two breaks and a special low income credit for the elderly.

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You may not itemize deductions on a form 1040-A. You may claim some credits using the form 1040-A, including the child tax credit, education credits, earned income credit, credit for child and dependent care expenses, credit for the elderly or the disabled and the American Opportunity Credit.

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In 2008 Korea introduced an earned-income tax credit, a universal basic pension and an insurance scheme providing long-term care for the elderly.

ECONOMIST: Asian welfare states