Clinton vs. Trump: A Tale of Two Tax Plans

CNBC's Robert Frank discusses how Hillary Clinton's and Donald Trump's proposed tax plans would affect the top one percent of earners in America.

ROBERT FRANK: We look at an analysis from the nonpartisan Tax Policy Center and found that Clinton's plan would increase federal tax revenues by over a $1 trillion in the first 10 years...Clinton has said the rich need to pay their fair share, so three-quarters of that added revenue would come from the top one percent. Now, one-percenters would see their yearly taxes increase an average of $78,000 each. The top 0.1 percent would see an increase of over a $500,000 a year.

Trump, well, he's a little kinder to the millionaire class and all taxpayers. The one would see an average tax cut of $275,000 and the 0.1 percent would see a cut of $1.3 million a year so while all americans get a tax cut under his plan the largest benefits go to the the one percent.