Should-Read: Ed Luce: The Perilous Taming of Donald Trump: "Two dangers fac[e]... any populist who manages to get elected...
...The first is the impossibility of carrying out... promises.... The second is that populist outsiders lack governing experience. They must therefore rely on those who do... [and] who prefer things the way they are. Less than a week after his stunning victory, Mr Trump has already acknowledged both realities. Beware a populist mugged by reality. When the public realises their champion lacks magical powers, they suffer buyer’s remorse. At this point he must find methods of rekindling their support. In Mr Trump’s case, this would be a very worrisome prospect. For the time being, however, we are on phase one....
Mr Trump wants to sharply reduce income and corporate taxes. He also wants to abolish the inheritance tax, which only the wealthiest Americans pay.... [These] will only deepen... income inequality.... So would repeal of Obamacare, which has brought 20m Americans into the insurance net--another goal on which Republicans and Mr Trump agree.... [These] would greatly enrich the wealthiest Americans without providing much relief to others. Billionaires, such as Mr Trump, would be the biggest winners. Then there are Mr Trump’s amorphous business interests....
How quickly the backlash comes may depend on whether he was serious in promising a big infrastructure bill. If well crafted, it could boost middle America. Most Republicans have strongly opposed similar proposals in the past. It also depends on whether Mr Trump keeps his promise to preserve entitlements, such as Medicare and Social Security, which most Republicans want to cut.... The US and the world should dig in for an unending struggle between the tamed Mr Trump and his dangerous alter ego. Mr Trump, alone, cannot fix it.
