| Since it is still very early in the year, I will use this | | | | kind of simplification of the current tax code, |
| space to give you my trusty predictions for 2005. | | | | along with some version of the Lifetime Savings |
| While none of these are guaranteed and any | | | | Account. The Roth 401(k) might finally become a |
| predictions are always fraught with risks, I'm | | | | reality as well.(7) VoIP will start to take off. Voice |
| reasonably sure the majority of them will prove | | | | over Internet Protocol (VoIP) technology allows |
| to be quite accurate. They are based on my | | | | consumers to make phone calls over their |
| analysis of the personalities involved and the | | | | broadband internet connections. It is much |
| outcomes of similar situations from the past.(1) | | | | cheaper and less restrictive that standard phone |
| The Iraqi elections will go on as scheduled. This is | | | | service. Most people are still not familiar with it but |
| the one I'm the most sure of. Barring some kind | | | | the major phone companies, along with some |
| of cataclysmic event, Iraqis will go to the polls on | | | | smaller companies which specialize in that |
| January 30. Because of terrorist activity, which will | | | | technology, will start to change that in 2005. They |
| only intensify as that date draws closer, it is | | | | are already heavily advertising it on the internet. I |
| anyone's guess as to how many Iraqis will actually | | | | expect a major TV, radio, and newspaper ad blitz |
| go to the polls. However, President Bush is bound | | | | to begin in early 2005.(8) The Florida Marlins will |
| and determined that these elections will take place | | | | stay put, but the Oakland A's and Minnesota |
| on schedule, come hell or high water. I doubt if | | | | Twins will start looking elsewhere. The Marlins will |
| anyone, other than God Himself, would be capable | | | | finalize their deal with the city of Miami for a new |
| of changing the President's mind on this issue.(2) | | | | baseball stadium. They will then change their name |
| Michael Jackson will be acquitted. Despite how bad | | | | to the Miami Marlins. However, the A's and the |
| Jackson might look, there's just not enough | | | | Twins won't be so fortunate. The A's will start |
| evidence linking him to the crime he's be accused | | | | serious negotiations with San Jose. The Twins will |
| of. Most of the stuff that makes him look so bad | | | | start looking at Las Vegas, Portland, Norfolk, or |
| has nothing to do with this case. If he is acquitted, | | | | Monterrey, Mexico as a possible new venue. The |
| he should then do the "moonwalk" on the | | | | Expos' relocation to Washington was Major |
| courtroom steps to rub Jane Velez-Mitchell's nose | | | | League Baseball's first relocation in 33 years. Now |
| in it.(3) Gas prices will continue to drop. This is | | | | that the genie is out of the bottle, there could be |
| simply a matter of supply and demand. Oil and | | | | several more in the next five years.(9) The NHL |
| gas prices were way too high for way too long. | | | | season will be partially saved. There is no way the |
| This caused oil producing nations to cheat on their | | | | NHL wants to become the first major North |
| quotas and export more crude. Refiners increased | | | | American sports league to lose an entire season |
| their output as well to take advantage of the | | | | due to a labor dispute. Commissioner Gary |
| higher prices. As a result, there's now an oil glut, | | | | Bettman and the owners will temporarily drop |
| despite OPEC's announced cut in production. This | | | | their demands for a salary cap and accept a |
| will continue to put heavy downward pressure on | | | | modified version of the players' latest offer. This |
| oil prices. I expect the average price of a gallon of | | | | will allow the last 35-40% of the season, along |
| regular gasoline in the U.S. to dip to $1.30 | | | | with the playoffs, to proceed as scheduled. |
| sometime in 2005 before recovering a little.(4) Al | | | | However, this will just be a short-term deal that |
| Gore will re-emerge onto the political scene. He will | | | | will only take the league through the end of the |
| start making more high visibility speeches as well | | | | 2005-06 season. Then they'll be right back to the |
| as more appearances on the TV talk show circuit, | | | | drawing board.(10) Next season's flu shot supply |
| in preparation for his run for the presidency in | | | | will be plentiful by October. I expect that |
| 2008. Gore will once again become a formidable | | | | everyone has learned their lesson from this year's |
| candidate for the highest office in the land.(5) | | | | fiasco. There will be at least one company, |
| Progress will be made in the Israeli-Palestinian | | | | possibly two, producing the vaccine in the United |
| conflict. Israel's withdrawal from Gaza will go on as | | | | States. Congress will pass legislation to ensure |
| planned. The new Palestinian Authority leader not | | | | that the production and distribution of the vaccine |
| be anywhere near the hard-liner that Arafat was. | | | | will be less risky for American companies. Also, |
| In response, Ariel Sharon will take less of a hard | | | | the FDA will probably do a better job of |
| line toward the Palestinians. I'm not saying that | | | | monitoring worldwide supplies. Enough will be |
| 2005 will bring peace between Israel and the PLO, | | | | available for anyone in the U.S who wants |
| but a step in the right direction will be taken. | | | | one.Terry Mitchell is a software engineer, |
| However, given their history, any progress could | | | | freelance writer, and trivia buff from Hopewell, |
| be just temporary.(6) Bush will tackle tax reform, | | | | VA. He also serves as a political columnist for |
| but chicken out on Social Security reform. Social | | | | American Daily and operates his own website - - |
| Security reform, at least for 2005, will prove to | | | | on which he posts commentaries on various |
| be too much of a hot potato for the President | | | | subjects such as politics, technology, religion, |
| and for Congress. Tax reform, although difficult | | | | health and well-being, personal finance, and sports. |
| itself, is the path of least resistance. I don't | | | | His commentaries offer a unique point of view |
| foresee a major overhaul, though. Look for some | | | | that is not often found in mainstream media. |