[Always Right]

However, what is most likely to happen in real life is that the retail purchase prices will go up by about 30% due to the NSRT, before any savings can be realized

Some of the saving (the actual income tax businesses now pay) will be quickly realized. That accounts for $650 Billion. Economist using IRS figures have calculated the cost of complinace of the code at $250 Billion, with most of the 'savings' being time spent by individuals filing out forms and record keeping and/or paying accountants to do it for them. The business share of compliance savings is at most $100 Billion. Forget the $650 Billion pigdog uses, he has no clue and incorrectly includes numbers that have no bearing on the discussion. This savings could be realized in the first year. Business would see about $750 Billion. But that savings represents less than 10% of consumer spending. Prices have to go up roughly 20%.

[expatpat]

Oh, I don't agree with the $600B figure. I just accepted it temporarily, for the sake of the argument, to show that even if you accept that number, you can't reach the nirvana and pie in the sky that the FT supporters promise.