pigdog: "In addition it does not take the effect of hidden taxes into account which many studies have shown to be from 20 to 40% of the price of things you buy."
And another thread, post 1:
There are many reasons why prices will fall from 20-40% once the FairTax is the law of the land:
"What these VOTERS are unaware of are the "hidden" taxes they pay. Eventhough they may have been totally taken off the income tax rolls, they still have 15.3% taken in payroll taxes and with what income is left over, they pay an additional 20-40% for every good and service they buy."
There's more if you care
Aha - it indeed is easy to type the wrong # - I'm glad it was a mistake and not your position.
In the absence of this information, I was left thinking you meant it - apologies.
All those posts say that the taxes imbedded in the prices of what we buy can range up to 40%. Dr. Jorgenson says that (ore-tax) prices will fall 20-30% in the first year. Those two statements are NOT contradictory, as Dr. Jorgenson, I believe, says that price declines could well continue after the first year. Dr. Jorgenson does NOT, however, say that price declines will go up to 40% in the first year.
In effect, the price declines he predicts in the first year can be considered conservative.