This is how much average Americans will pay for Trump’s tax cuts for the 1 Percent

  On the heels of their humiliating health care debacle, President Donald Trump and congressional Republicans are stepping up efforts to push a tax plan designed to benefit the wealthy. The plan makes vague and unspecific overtures when it comes to provisions that could benefit working- and middle-class taxpayers, but it is crystal clear about the benefits it would bestow on rich individuals and wealthy corporations.

  For example, the plan removes taxes on extremely wealthy estates, slashes the top income tax rate from 39.6 percent to 35 percent, and abolishes the alternative minimum tax, which ensures that higher-income households—which are often able to take advantage of lucrative deductions and credits—contribute at least some modicum of taxes. It also gives a special low tax rate to owners of pass-through businesses, who are already able to avoid corporate taxes by instead paying personal tax rates on their portion of the businesses’ profits, allowing them a lower effective tax rate. All of these provisions would benefit the wealthiest Americans, including Trump himself.