Two weeks after the midterm elections, predictions from our industry’s reporters and pundits are starting to trickle in.

Jonathan “Capitalist Pig” Hoenig at SmartMoney.com says the “anticapitalist, welfare state [Democrat Congress]” will cause a decline in the dollar. I was sad to see Charles Paikart at Investment News verifying that social security reform is on hold for the next two years. Financial Advisor Magazine sees the Democrats focusing more on corporate tax reform, starting by eliminating abusive corporate tax shelters.

Financial Advisor Magazine goes on to predict no change to the estate tax, meaning big estate tax bills starting in 2011. They suggest getting much more aggressive with your clients’ estate planning and say Congress won’t drastically change ordinary income tax rates or the alternative minimum tax over the next two years.

Bill Carlino, Editor-in-Chief of Accounting Today agrees that [new head of House Ways and Means] Rangel won’t make any major revisions to the tax code. Sara Hansard at Investment News also predicts bureaucratic gridlock, with no major changes. In a second article, she goes one step further forecasting “all out war” between Bush and Congress. As I mentioned in a prior post, Schwab’s crystal ball, in the form of chief investment officer Liz Ann Saunders, shows no major market movements, except possibly at the sector level.

Note: One of our most relevant publications, Financial Planning Magazine is silent on the subject.