I am particularly interested in what Kotlikoff's paper has to say about inflation or deflation of tax included prices and any changes to the business cycle that he should have provided for in his simulation for it to accurately reflect shelf (i.e. producer) pricing of goods and services to the end consumer.
He doesn't say anything. Why would he? Prices don't mean anything. That's why economist use real terms.
ROTFLMAO, in other words he has said nothing concerning prices in the paper you are looking at, inspite of claiming:
"This pretty clearly shows that there will be no change in prices relative to wages due to microeconomic effects."
Where the simulation shows real wage increase not decrease that you pretend, calibrated against the economy and tax law as it existed prior to 1996.
I now have a request to AFT for a copy of that paper, it will be interesting to see just what Kotlikoff actually had to say, what assumptions and economic factors were implemented, NRST rates and parameters he used were and how closely he tracked the provisions of HR25, which was authored and introduced into Congress in 1999, several years after that old '96 Kotlikoff study.
I have found AFT's usual turnaround to be a few days for general request, so I be back with you then after I have had the opportunity to take a close look at the study we are talking about and the results therein.
ROTFLMAO, in other words he has said nothing concerning prices in the paper you are looking at, inspite of claiming:Please go pick up a economics text book.
Where the simulation shows real wage increase not decrease that you pretend, calibrated against the economy and tax law as it existed prior to 1996.I pretend, huh? This is the paper you were indirectly referencing in #46 and it shows real wages dropping the first year.