Among President Trump's many promises has been a cut in taxes for both households and businesses. So what might a Trump tax plan look like, and what might it mean for the rest of the world? Economist Irwin Stelzer from the Hudson Institute gives us his analysis.

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Ceremonial soldiers parade during the 79th anniversary of the Victory Day in Red Square in Moscow, Russia, on May 9, 2024. (Sefa Karacan via Getty Images)