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93 Million Americans Could See Income Tax Relief Based On Trump’s Tax Plans

Former President Donald Trump has proposed a sweeping overhaul of the income tax system, potentially exempting 93.2 million Americans, including those receiving Social Security benefits, tipped workers, and specific occupations like military personnel and first responders, from paying federal income taxes. He plans to replace lost tax revenue with tariffs, including a 20% universal rate and a 60% tariff on Chinese imports, though tax experts argue this would fall far short of offsetting the $33 trillion expected from income taxes over the next decade. Critics highlight the regressive nature of tariffs, which disproportionately affect low-income consumers, and question the feasibility of such a significant revenue shift. While these proposals align with Trump’s commitment to extending his 2017 tax cuts, analysts doubt they would pass without substantial Republican control in Congress. The plan underscores Trump's ambition to redefine federal taxation but raises concerns over its practicality and potential economic consequences.

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