In Trump’s plan, income earners would also gain the tax-free benefit, a change that could destabilize the Social Security trust funds that pay out the benefits. Therefore, Razi believes a more prudent approach would be to impose a means test to qualify for the Social Security tax exemption instead of eliminating it entirely.

Trump suggested that federal income taxes should be "eliminated," while stating that America was at its richest from 1870 to 1913, when tariffs were a thing.

Donald Trump outlined his vision of a new economic model where the US would no longer tax its citizens to enrich foreign nations.