Trump Admits His New Tax Plan 'Is Going to Cost Me a Fortune'

The presidential candidate unveiled his new tax plan, calling for higher taxes on the rich.
1:26 | 09/28/15

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Transcript for Trump Admits His New Tax Plan 'Is Going to Cost Me a Fortune'
It's a tax reform that. I think will make America. Strong and great again. If you're single and her lasted when he 5000 are married and jointly. Earned less than 50000. You'll not pay any income tax nothing. This eliminates. Very strongly and quickly. The marriage penalty very unfair penalties eliminate the AMT which is the Alternative Minimum Tax. It ends the death tax to double taxation. A lot of families go through hell. All over the debt that acts. It reduces or eliminates most of the deductions and loopholes. Available to special it dress. Add to the very rich courts it's gonna cost me a fortune. A we have a an amazing coat. It will be simple it will be easy it will be fair. It's graduated. As you get up. It'd com you pay a little more are some of the very unfair deduct. That. Certain people have been given who make a lot of money will not develop any longer but. I actually believe they'll do better because I think the economy will grow it'll grow rapidly.

This transcript has been automatically generated and may not be 100% accurate.

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