We tax all the others and pass the revenue on to you
I made some bold predictions in the first half of '09. Even got some of 'em right in the face of some skepticism and even derision. I didn't do much prognosticating in the second half and I wish I had.
Here are some of the things I think we'll see in 2010, in no particular order:
- California will become an even bigger financial mess, requiring massive bailouts of its bloated entitlement economy. There won't be a corresponding reduction in those entitlements because that would cost too many CA pols their legislative sinecures.
- As a predictable result, CA will suffer more arbitrary revenue-generating measures that won't be called taxes... but are. There will be cut-backs in programs that they have come to take for granted, and increases in programs you've never heard of.
- Oregon will more and more resemble California.
- There won't be a significant overhaul of the Tax Code. It's not much of a vote-getter these days and Congress won't have time or political courage for the hearings.
- The IRS will receive massive new funding in support of health care but there won't be a corresponding increase in revenue.
- We'll hear more about mileage taxes to supplement, not replace, gas taxes.
- There won't be any major Wall Street reforms.
- Iraq will end in a whimper, spun as a victory. It will cost nearly as much to prop up their government as when the war was being waged.
- Afghanistan will suffer at least one major disaster, prompting the prez to convene a committee to "re-think our overall strategy and the price of our commitment." The phrase "open-ended" will be repeated ad nauseum.
- There will be more than one significant terror attack on American soil. We will be unprepared and have no meaningful response.
- Iran will succeed in its nuclear arms development program. We will not have a cogent response nor will we be able to convene an international one.
- Russia will resume its role as world bully and we won't push back. [See Ukraine and Georgia.]
- We will ignore China's offenses to mankind's sensibilities on the grounds that, well, we owe 'em too much money.
- When unemployment goes back to single digits it will be hailed as a vindication of the administration's economic plans. The prez's promise that it wouldn't exceed 8% if Congress passed the stimulus bill we be ignored.
- There will be another stimulus package, even though it might be named something else. It won't work, either.
- GM/GMAC and Chrysler will continue to be suppurating sores on the American body.
- The mid-term elections will be claimed as victories by both parties. Only the American citizenry will lose.
- Hugo Chavez succeeds in delivering a death blow to whatever residual freedom still exists in Venezuela.
- Cap-and-trade will fizzle. Same for climate change.
- Oregon goes to the Rose Bowl for the second straight year... and wins this time.
Got any predictions of your own? Share 'em here
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Prediction is very difficult, especially if it's about the future.
Neils Bohr