Today’s Wall Street Journal is reporting that a musical revival in Washington at a Capitol Hill party roasted tax shelters. According to the article, a woman sang “God Rest You Merry Tax Shelters” to the tune of “God Rest You Merry Gentlemen.” “O hidings of shelter and joy. . .” she sang.
In addition, the Wall Street Journal is reporting that Pam Olson, Treasury’s assistant secretary for tax policy, has quipped: “This just in: Citing the growing cost of running the federal government and the need to cut costs in order to reduce the budget deficit, President Bush announced today that he was laying off all 535 members of Congress and transferring lawmaking operations to a legislative support center in Bangalore, India.”