How can you guys always twists your gross errors and exaggerations into us being wrong?????? I was not wrong. There is no legal mechanism to get wages to come down to keep take home pay constant. Since wages will remain where they are, prices of goods will have to reflect the additional $1.3 Trillion that is now being pocketed by workers. End prices to consumers will have to go up around 15%. Rents and other contractual obligations, will immediately go up 30%. You can talk about the dynamic forces that may eventually bring wages down and prices down, but that will take years. In the meantime, our economy will be in chaos.
Hogwash. You completely ignored what RobFromGa and Jorgenson said, and posted the exact opposite as being what they "proved". For what it is worth, I agree that Jorgenson's model is flawed in that there are legal issues involved (which I even said in the post you replied to!) but the discussion is on Jorgenson's model, complete with the assumptions that went into it.
As far as whether Rob's analysis is even correct is still open for debate -- if this were an article for publication, it would have been grossly irresponsible to not have even attempted to get a rebuttal before publishing.