New York Donald Trump is vowing to drastically cut income taxes for millions of Americans across the wealth spectrum while casting aside loopholes popular on Wall Street.<br />One of the biggest beneficiaries appears to be families that draw the smallest paychecks, who Trump said would pay no income taxes under his plan.<br />However, the proposal would also be a boon for the wealthiest Americans like Trump - the top bracket includes couples making more than $300,000 - who would pay an income tax rate of 25%, according to the Wall Street Journal.<br />The candidate says he would make up for the difference in a number of ways: killing certain deductions for the rich and creating incentives for U.S. companies to bring back cash currently held overseas, thereby boosting growth at home.<br />Since launching his White House campaign in June, Trump has made sweeping attacks on hedge fund managers who are paid in carried interest.<br />Trump, who claims that his personal assets are valued at more than $10 billion, frequently makes the distinction between investors who work in real estate and those on Wall Street.
