While I totally understand your argument on tax neutrality, you also have to acknowledge that the entrepreneur is working within a business reality. Again, the reason why more and more people are incorporating may be for the simple reason that they want to protect assets because they want to look after their family.
I also wanted to talk to you a bit about.... I have to thank you for your work on Twitter. I think it's wonderful that we have many economists who broadly put out their work on Twitter and make themselves available. I appreciate your doing that.
You've talked about the difference between salaried employees able to save for their retirement versus an incorporated company. First of all, most small business owners I know say that their business is their pension. Most small businesses—and I'm sure Mr. Kelly could say this—fail within the first five years, probably 95% plus of them. Would you say that's probably true, Mr. Milligan?