A number of industries that depend heavily on cheap immigrant labor would be devastated -- especially agriculture. "There would be an abrupt drop in farm income and a sharp rise in food prices," said John McLaren, professor of economics at the University of Virginia with expertise in international trade, economic development and the political economy. Companies that sell to the immigrant population would be affected as well, leading to decreased revenues for local businesses and a loss of American jobs. "Immigrants, whether they are legal or illegal, always spend a portion of their earnings in the location where they have their jobs," McLaren said. "And in a lot of our urban centers, this is actually an important part of the economy." He pointed to the case of Postville, Iowa, where in 2008 U.S. Immigration and Customs Enforcement (ICE) raided a slaughterhouse and meat packing plant, detaining 389 undocumented workers (and jailing 300 of them). The raid caused most of the more than 1,000 immigrants not caught to leave the town of 2,300, devastating the local economy in the process. He also noted his own research, which suggests each immigrant creates 1.2 local jobs for local workers, most of which go to U.S. natives. "Obviously, those jobs would disappear if the undocumented were just yanked away," he said. It is worth noting that Trump appears to have backed away from his mass deportation stance slightly, outlining priorities that would lead to the deportation of what The Washington Post estimates would be 5 million to 6.5 million immigrants. He has warned, however, that "anyone who has entered the United States illegally is subject to deportation." Trump has also discussed reducing the number of jobs held by legal immigrants, namely by increasing the prevailing wage requirements for H-1B visas (visas that allow U.S. employers to recruit and employ foreign professionals) -- an element of his plan that is often overlooked. His thesis is that doing so would force companies to give jobs to domestic employees instead of overseas workers. The maneuver would benefit some, but not most. "If I'm an American software programmer, I probably would benefit somewhat from making it harder for highly-skilled software programmers from elsewhere," McClaren said. "It's really hard to argue that the country, as a whole, benefits from that. It would be bad for most Americans, and it certainly would be bad for corporations." An extreme anti-immigration policy could also cause collateral damage to the American image. "What's the American brand after we've rounded up 11 million people and sent them packing?" said Jim Pethokoukis, a columnist and blogger at the American Enterprise Institute, a center-right think tank based on Washington, D.C. "Do people still view America the same way?" Perhaps it's a good thing the real estate magnate's immigration plans are essentially impossible to implement in full. Tax Cuts for Everyone, and Deficits, Too Trump's tax plan, unveiled in September, is perhaps the most detailed proposal he put forth while campaigning. It entails implementing tax cuts across the board, though some in the middle class would see their tax bills go up. "His tax plan is one of the most dynamic and pro-growth tax plans out there," said Merrill Matthews, resident scholar at the Institute for Policy Innovation, a Texas-based, right-leaning think tank. "You would find a huge amount of new business investment and companies willing to put their money out there to begin growing the economy." Trump's tax plan stacked up fairly well against his fellow Republican presidential primary contenders. It wasn't as drastic as proposals put forth by Ted Cruz and Ben Carson but did, like most GOP tax structures, favor the rich. Perhaps the biggest distinguishing feature of Trump's proposal is his hard cap on business taxes at 15%, which might be especially appealing to freelancers and the self-employed. But there's a catch: Trump's tax plan would reduce revenue enormously, and the federal budget deficit would almost inevitably skyrocket. Nonpartisan tax research group the Tax Foundation calculated that Trump's plan in its original form would cut taxes by $11.98 trillion over the course of a decade. It would lead to 11% growth in the GDP, 6.5% higher wages and 29% larger capital stock as well as 5.3 million jobs. However, it would also reduce tax revenues by $10.14 trillion, even when accounting for economic growth from increases in the supply of labor and capital. "That tax cut would produce faster economic growth and a bigger economy -- as long as you pay zero attention to the fact that it would dramatically increase the deficit and budget debt," said Pethokoukis. Trump in August adjusted his platform, calling for a top income tax rate of 33% rather than a past plan for 25% as well as the full expensing of capital investment and a deduction for childcare costs. An updated version of the Tax Foundation's analysis determined Trump's more fleshed-out tax plan would reduce federal revenue by between $4.4 and $5.9 trillion, depending on how it handles pass-through businesses. The group noted that the change would reduce the revenue loss from his original plan, but it would depend significantly on how wide the new bracket thresholds are. Trump has promised to reduce spending, though he hasn't explicitly said how. Moreover, he has said he will maintain entitlement programs like Social Security and Medicare, two of the costliest parts of the federal budget. "If there weren't any spending cuts that materialized, you would see the deficit widen substantially the moment the plan was enacted," said said Alan Cole, an economist with the Center for Federal Tax Policy at the Tax Foundation. In the face of such an enormous deficit, creditors might begin demanding higher interest rates on U.S. bonds, and the markets would be spooked. "I can't imagine markets would react well to it. I can't imagine global investors looking to relocate will look on a United States that is driving deliberately over a fiscal cliff," said Holtz-Eakin. "Sending the U.S. into a debt spiral where you're borrowing interest on previous borrowing will generate a market reaction that will be far from benign and that will, I think, in the end overwhelm the beneficial effects." Of course, just because Trump hasn't yet explained how he will cut spending doesn't mean he won't. "It's not unusual for a politician to say, 'I'm going to cut spending,' and not give specifics," Matthews said. Check Out TheStreet's Donald Trump Stock Portfolio.

Changing Views on Health Care Health care appears to be the number one item on Trump's and Congressional Republicans' agenda. The GOP has already taken steps to begin the process of rolling back the Affordable Care Act, and Trump has said he will fill in the blanks on repealing and replacing President Obama's signature law once his Health and Human Services Secretary, Georgia Representative Tom Price, is confirmed. In his 2000 book, The America We Deserve, Trump touted universal health care and laid out an ideology on the subject that, frankly, looks pretty un-Republican. On the campaign trail, he promised to "take care of everyone." But his campaign health care plan, released in March, sang a different tune. While campaigning, the Trump camp outlined a seven-point plan for health care in America, including the repeal of Obamacare, the allowance of purchases of health insurance across state lines and block-grant Medicaid to states, among other things. "This strikes me as a mixture of what is mostly Republican orthodoxy...with a couple of oddball proposals," said Roger Feldman, professor of health policy and management at the University of Minnesota. One of the unique aspects of the plan: allowing consumers to re-import drugs from overseas. At a February town hall event hosted by CNN, Trump was critical of Obamacare, noting that "rates are going up 25, 35, 45, 55 percent." He emphasized that he was not receiving campaign money from insurance or pharmaceutical companies "so I can do what's right." "I don't think [Trump's health care proposal] is based on economic analysis, I think it's based on channeling a populist dislike of insurance executives," said Feldman. "If he really tried to do the things he said he would do the insurance industry would be in the crosshairs." The ability for consumers to buy their health insurance in other states is perhaps the health-related proposal Trump discussed most on the campaign trail. The idea is not new -- such a bill was introduced in Congress a decade ago -- but it is impactful. When pressed for detail on his plan at the February 25 Republican debate hosted by CNN, Trump focused on the state lines issue, repeating on a handful of occasions his proposal to get rid of "the lines" around each state "so we can have real competition." "You get rid of the lines, it brings in competition," he said. "So, instead of having one insurance company taking care of New York, or Texas, you'll have many. They'll compete, and it'll be a beautiful thing." "I think it could be a potentially significant improvement in insurance," Feldman, who in 2011 co-authored a paper on consumer response to a national marketplace for individual health insurance, said. "It would do that by allowing people to buy insurance in states with fewer regulations, and that would, in turn, cause a restructuring of the health insurance industry." Based on a pre-Obamacare baseline, Feldman and other researchers concluded such a system would result in seven million more people being insured by opening up the insurance markets to more competition. Of course, not everyone agrees. "It doesn't actually achieve you much," said Matthews, pointing out that a policy in another state may not translate to access to the network of physicians and pre-negotiated prices locally-purchased policies often afford. "It's not a bad idea, but it is no panacea." Too Tough on Trade? Trump likes to talk trade. And while has said he is a "free trader," he has also clarified he doesn't like the deals the U.S. has done, such as NAFTA and the Trans-Pacific Partnership. The Art of the Deal author has promised to negotiate better agreements. "One of the things that's often lost is that [Trump] has a strong business background, he understands how commerce works," said John Hudak, a fellow in governance studies at Washington, D.C.-based think tank the Brookings Institution.. "He has more business training than any American president we've ever had." Check Out TheStreet's Donald Trump Stock Portfolio.