OnPolitics Today: Trump's tax plan poised to help Trump

with Josh Hafner

President Trump speaks about tax reform in Indianapolis

Amid all the outrage this week over NFL players kneeling, Americans suffering in Puerto Rico and potential nuclear war, who's looking out for rich people?

President Trump, by the looks of his new tax plan.

The proposal Trump rolled out Wednesday would cut taxes on so-called "pass through" businesses from 39.6% to 25%. Many of Trump's ventures are, shockingly, "pass through" businesses.

It would also eliminate two taxes paid by the rich, the estate tax the individual Alternative Minimum Tax, which could together save the Trump family over $1 billion. Similarly wealthy families would do just fine, too.

So what's it mean for non-millionaires without their own self-branded steak company? Find out below.

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This looks taxing

Trump's tax plan, backed by top Republicans, could simplify returns, add a credit for elderly relatives and mean no income tax for working poor people. It dramatically cuts the top corporate tax rate while adding a top rate for small businesses that's lower than the one for individuals. But how the plan pays for itself remains unclear. See the full details for yourself, and read about whether Democrats can stop it.

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