I have been alive long enough to know that merchants will not willingly reduce the cost of their merchandise if there is a profit to be made in not doing so. This entire plan seems to hinge on this assumption that merchants will do something that is against their nature. Now, I’m sure there will be instances of free market competition that may result in lower prices for some items; however, I am equally sure that there will be many incentives to not reduce prices and pocket the difference instead leaving the country with a brand new national sales tax that will NEVER GO AWAY and the same old stagflation.
You’re absolutely right.
Let’s vote for Obama.
Let’s keep it like it is.