Tuesday, February 01, 2005

Step up and place your bets

I was speaking to a business audience today about what to expect out of Washington these days and a fellow speaker, who has some general connections and no particular axe to grind, offered odds of 5 or 6 to 1 against enactment of President Bush's Social Security plan. He also offered 3 to 1 odds in favor of the tax cuts being made permanent, but agreed with me that "permanent" means 4 years tops.
Asked about fundamental tax reform, such as replacement of the income tax by a VAT in the next two years, I compared it to the Eagles' chances of winning the Super Bowl by five touchdowns.

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