If anyone is interested then you can find the write-up at: http://hashingit.com/11-the-rewards-for-a-bitcoin-miner
It looks like you are completely omitting the added tax complexities and cost associated with US based mining, thus for me the write-up is incomplete and doesn't seem relevant for the times. Just being honest, my opinion.
I guess the interesting question is just what percentage of the mining is taking place in the US? Up to now there hasn't really been a huge tax complication and it will be interesting to see what effect that has. It's difficult to estimate the impact given a lack of any historical data.
For anyone mining as a commercial enterprise then I would expect that if any income is being reinvested in mining equipment then the tax liabilities will be marginal - it's certainly there for any individuals though.
Tax liabilities are one thing, but the compliance and hiring of CPAs is another. I mean, there are plenty of collateral costs that come along with increased compliance. I went legit, taxes due weren't crazy but definitely had to pay my CPA a few bucks and put several hours into creating records for him. The larger the operation the larger the costs.