President Donald Trump has unveiled ambitious tax reform proposals aimed at alleviating the financial burden on American workers. Key initiatives include eliminating federal income taxes on tips, overtime pay, and Social Security benefits, directly benefiting service industry employees and seniors. Additionally, Trump has floated the idea of replacing the current federal income tax system with increased tariffs on imports, a move reminiscent of historical revenue models. While these proposals are intended to stimulate economic growth and support the working class, they have sparked debates over potential increases in the national debt, with estimates suggesting an addition of approximately $7.5 trillion over the next decade. The feasibility and impact of these proposals remain subjects of ongoing discussion among policymakers and economists.

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