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Trump's proposed tax changes could dramatically reshape America's financial landscape, with eight major groups potentially seeing significant breaks. Managing editor Carla Baucher breaks down these ambitious proposals, which include eliminating taxes on tips, overtime pay, and Social Security benefits.

The most concrete proposals from Trump's official platform include tax breaks for unpaid caregivers, first-time homebuyers, and tip workers. However, experts warn these changes could accelerate Social Security's path to insolvency.

Some proposals, like removing taxes on car loan interest and state/local tax deductions (SALT), face implementation challenges. The tax cuts could significantly reduce government revenue unless offset by other measures like tariffs.

While extending the Tax Cuts and Jobs Act remains a priority, many proposals appear designed to attract voters rather than represent realistic policy. Most concerning is the potential impact on Social Security, which could face depletion a year earlier if benefits become tax-free.

Experts predict only a minority of these proposals will become law, with the caregiver tax credit having the best chance due to existing legislation.

0:00 - Introduction & Overview
2:01 - Tax-Free Tips Proposal
6:36 - First-Time Homebuyer Benefits
10:15 - Unpaid Caregiver Tax Credits
13:42 - Overtime Tax Elimination
15:55 - Social Security Tax Changes
19:32 - Car Loan Interest Deductions
21:17 - SALT Deductions
22:38 - Americans Abroad & Conclusions

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