now on the fact that our tax system is broken. needs reform. here s. here s a sampling of the plans. jeb bush reduced the income tax brackets to three with the top rate of 28% instead of 39.6. he would cap capital gains tacks at 20% and cut to top corporate tax rid from 35 to 20%. marco rubio wants two personal tax brackets, no capital gains taxes and his corporate tax rate would be 25%. for trump, three brackets and a 20% top rate, capital gains darked at 20% and he want s a 15 s top corporate catastrophe rate. the tax foundation estimates they d adds a little as 1.6 trillion more to the
current seven income tax brackets to four. individuals earning less th$25,0 and couples earning less than $50,000 would pay no tax. the wealthiest americans would see their tax rates slashed to 25% from nearly 40%. trump s plan also eliminates the estate tax paid by the wealthiest americans. meantime, the corporate tax rate would be cut to 15%. but how to pay for all of that is not clear. trump promises to get rid of unspecified deductions and close tax loopholes now available to special interests and the very wealthy. he says critics who charge that the numbers don t add up are wrong. they re wrong because we re bringing in at least $2.5 trillion is stuck outside of this country. that money now will be able to flow back in under my plan. that money will be able to flow back in to the country, we re going to be reducing corporate taxes, jobs will be created, the economy is going to expand tremendously like it hasn t
your taxes and raise his own. the billionaire businessman outlined his plan today. correspondent carl cameron takes a look tonight from iowa. it will provide major tax relief for middle income and for most other americans. there will be a major tax reduction. it will simplify the tax code. reporter: donald trump says his plan to cut taxes will make america great again and balance the budget. he would reduce the current seven income tax brackets to three brackets and reduce rates from 25.20% to 10%. individuals earning less than $25,000 a year. he would also cut income taxes to spur growth, and cut income tax, marriage disparity.
the pope yesterday in philadelphia, and now here you are today at trump tower. tell me about the atmosphere in that room. now we re seeing donald trump evolve into something of a traditional political candidate. he was up there with charts. his plan has lists of exactly what the brackets are going to be. i mean, this is the most detail he s put out in a plan so far. we saw his immigration plan, what he put out on guns, pretty straightforward and simple. he s feeling that he needs to get a little bit more conventional here as the front-runner. and everything still comes with the classic trump flavor. talking about how he s going to raise his own tax rates, which his plan would do. can we throw out that full screen that shows us what s in the plan. this is the basics. four income tax brackets and you were just mentioning, people that are making less than $25,000, no tax.
donald trump wants to cut your taxes and raise his own. the billionaire businessman outlined his plan today. correspondent carl cameron takes a look tonight from iowa. it will provide major tax relief for middle income and for most other americans. there will be a major tax reduction. it will simplify the tax code. reporter: donald trump says his plan to cut taxes will make america great again and balance the budget. he would reduce the current seven income tax brackets to three brackets and reduce rates from 25.20% to 10%. individuals earning less than $25,000 a year. he would also cut income taxes to spur growth, and cut income tax, marriage disparity.