Final answer:
The true or false nature of the statement about taxpayers itemizing or claiming the standard deduction after purchasing a home depends on their individual tax situations. The colonists' objection to taxation was largely about the use of tax revenues, making that statement true.
Step-by-step explanation:
The question regarding whether many taxpayers who previously itemized will begin claiming the standard deduction when purchasing a home cannot be answered with a simple true or false. Tax situations vary greatly among individuals, and the choice to itemize deductions or take the standard deduction after purchasing a home depends on a number of factors including the amount of mortgage interest, property taxes, and other deductible expenses one incurs.
Speaking to the provided information, the claim that colonists did not object to the principle of taxation but to how the tax money was applied is true. They were primarily concerned with the issue of 'taxation without representation' and how the revenue from taxes was utilized by the British government.
As for the federal spending and economy factors, those are detailed statements that cover several aspects of the U.S. government finances and would need a true or false assessment based on historical data and statistics of each individual statement.