If the smart money folks on Wall Street think a special counsel to oversee the Russian probes spells defeat for business tax cuts, they're leaning well over their skis.
The Dow Jones industrial average sold off over 300 points on Wednesday, but it may have come back to its senses with a 140-point gain on Friday. And while there's never 100 percent probability in forecasting political risk, it seems the likelihood of health care reform by the summer and tax reform by year's end (or early 2018) is quite high.
Paradoxically, special counsel Robert Mueller will provide cover for President Trump, as it will take him many months to complete his investigation. The leaks are going to dry up. By law, information on the probe must be protected. So, whatever the outcome, Trump will have months without the attack headlines in which to sell his tax-cut plan.
Meanwhile, amid all the controversies, the GOP Congress knows it could get whacked in next year's midterms if it doesn't govern -- a big incentive.
And Trump still has the backing of his core base, which is at least 40 percent of the electorate. These disenchanted voters may not agree with everything he says. But they still strongly believe Trump is their best chance to drain the swamp -- to overturn the Beltway elites, to deliver border security, to improve trade deals and to cut taxes and regulations to deliver the full-fledged deeply rooted sustainable prosperity we haven't seen in 20 years.
Warts and all, Trump and his polices is still their vote. (He needs to go out there and rally these folks.)
The complete story here > Don't Bet Against Tax and Health Care Reform in 2017