If you believe in the price reductions - I question your intellectual honesty and/or your IQ. Look at gas stations - prices go up much more readily than down.
Last time I checked, competition was a well-proven factor in lowering prices. Reduction in costs in a free market ALWAYS drive down prices. Business taxes are costs just as surely as raw materials.
Your ignorance of basic economics and business is appalling. Pointing to one or even a few monopolistic industries over a short time-frame is a facile argument. I could as easily point to the $300 PC that is 100 times more powerful than the $3,000 PC I used ten years ago. Or the $200 DVD player at home that I could replace today for $40. By your logic, the sellers of those items should have just retained all the additional profits as their costs dropped. Didn't happen. Called 'competition'. Look it up.
Or I could look at my own employer, a manufacturer of basic electronics components, and see that EVERY cost reduction we can achieve gets passed along to our customers -- because if we didn't, our competitors would take our market share in a heartbeat.