On Trump, the Tax Cut, and the PBPs

Imagine that you are a businessman, and the Trump tax cut has just become law.  You’re overjoyed;  the tax cut was the whole point of his presidency, from your perspective.  You had every expectation that the proprietor of Trump University would be able to convince himself and his Reactionary supporters that a huge regressive tax cut would help the average American, and he delivered, with lots of help from your friends in Congress.  But now what?

Today, things are as good as they’re ever going to get.  From this day forward, you’re going to be playing defense to keep what you have.  And frankly, you’re worried about Trump.  His incompetence and corruption could provoke a Democratic backlash that would endanger your tax cut; the vote in Alabama could be evidence that the backlash has already started.  His ideas about trade are also a big threat to the markets and your investments.  He hasn’t done anything meaningful to damage the economy yet, but the protectionist rhetoric is still there, and you never know . . .

President Pence is starting to look pretty good to you.  And that, my friends, between now and the 2018 election, is the biggest threat to the Wizard of Id.