"Many will see this as an opportunity to increase their profit margin, fund capitol improvements, ramp up research that has been put off, etc."
Therefore an employment explosion would take place. Nothing wrong with that either! Think about it, these actions will increase the need for employees, therefore the leverage of the employee to demand higher wages is increased, potentially a greater benefit that will offset your theory of prices not going down.
Employment explosion?
Maybe among the illegals, after all they would also see a higher wage, and the employer would no longer be worried about not withholding payroll tax's!
Unfortunate that the author did not allow for the effects of greed by the large corporations.
As I stated, a good start, but incomplete.