Billionaires will benefit from Trump's tax plan the most


President Donald Trump put out a rough draft of his tax reform plan on Wednesday — a one-page document that lacks detail and follows the tax proposal he released during the campaign almost verbatim.

With so few details, it's hard to say how the plan will actually benefit low-income to middle-income families in America.

However, what we do know is that millionaires and billionaires — like Trump and his family — are set to benefit handsomely if a plan resembling this one comes to pass. That's because two of the plan's biggest proposals directly impact the wealthiest Americans.

The first is a repeal of the estate tax, which the Trump administration ominously dubbed the "death tax."

RELATED: How much Americans pay in taxes in each state

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How much Americans pay in taxes in every state
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How much Americans pay in taxes in every state

Alabama: $10,531.97

  • Income Taxes Paid: $7,025.03
  • Sales Taxes Paid: $2,762.47
  • Property Taxes Paid: $473.98
  • Gas Taxes Paid: $270.99

Alabama residents pay less in property taxes than residents in any other state due to low median home values and the second-lowest property tax rate. Alabama residents have 23.66 percent of income going toward taxes, with a median household income of $44,509.

Beware health insurance in the state, though. A GOBankingRates study ranked Alabama among the worst states for health insurance costs.

Alaska: $16,259.83

  • Income Taxes Paid: $12,929.25
  • Sales Taxes Paid: $539.62
  • Property Taxes Paid: $2,589.90
  • Gas Taxes Paid: $201.06

Although the average income tax paid by Alaska residents is higher than the national average, it's largely due to the state's high median income of $75,112. Residents also only pay federal income taxes — there is no state income tax. Residents of this oil-producing state pay the least in gas taxes in the nation, at 31 cents per gallon. That helps make Alaska one of the least expensive states to own a car.

Arizona: $12,844.14

  • Income Taxes Paid: $8,623.95
  • Sales Taxes Paid: $2,529.45
  • Property Taxes Paid: $1,445.40
  • Gas Taxes Paid: $245.34

Arizona falls in the bottom half of states for total taxes paid by its residents, who see 24.58 percent of their income, on average, go toward taxes. Property taxes and gas taxes paid in this state are lower than the national average.

However, the 8.25 percent sales tax is noticeably higher than the national average of 6.47 percent. Meanwhile, the state was ranked among the worst states to start a business by a GOBankingRates study.

Arkansas: $10,662.08

  • Income Taxes Paid: $6,858.46
  • Sales Taxes Paid: $2,851.38
  • Property Taxes Paid: $688.53
  • Gas Taxes Paid: $263.71

Arkansas has one of the highest sales tax rates in the nation, at 9.3 percent. However, residents pay less in income taxes and gas taxes than the national average. Plus, the average property tax bill in Arkansas is among the lowest in the nation due to low median home values and a low tax rate.

California: $19,725.41

  • Income Taxes Paid: $13,313.68
  • Sales Taxes Paid: $2,529.45
  • Property Taxes Paid: $3,511.44
  • Gas Taxes Paid: $370.84

California residents pay more in taxes than residents of most other states. In fact, 31 percent of their income, on average, goes toward taxes. Considering that the cost of living in California also is high, it's no wonder it's one of the states where residents are most likely to live paycheck to paycheck, according to one GOBankingRates study.

Colorado: $18,114.42

  • Income Taxes Paid: $13,777.25
  • Sales Taxes Paid: $2,299.50
  • Property Taxes Paid: $1,772.65
  • Gas Taxes Paid: $265.02

Colorado residents pay more in taxes than the national average of $14,998.83 — and pay a higher percentage of their income toward taxes, on average. The reason: high income and sales taxes. Gas and property taxes paid in Colorado, on th other hand, are lower than the national average.

Connecticut: $22,475.88

  • Income Taxes Paid: $16,132.40
  • Sales Taxes Paid: $1,946.91
  • Property Taxes Paid: $4,014.45
  • Gas Taxes Paid: $382.12

Connecticut residents pay more in income taxes than any other state, in part due to a high median income of $72,889. Average property taxes paid in the state also are about double the national average of $2,118.08. In addition to high taxes, residents also are faced with a high cost of living in Connecticut.

Delaware: $12,703.29

  • Income Taxes Paid: $11,228.83
  • Sales Taxes Paid: $0
  • Property Taxes Paid: $1,202.88
  • Gas Taxes Paid: $271.58

Delaware is one of the most tax-friendly states, with residents paying just 21.99 percent of their income toward taxes. One of the key reasons the total tax bill is low here is because there is no sales tax. Plus, the average property tax paid is nearly half the national average.

District of Columbia: $21,143.09

  • Income Taxes Paid: $16,025
  • Sales Taxes Paid: $1,762.95
  • Property Taxes Paid: $3,080.28
  • Gas Taxes Paid: $274.86

Washington, D.C., residents pay more in property taxes, on average, than residents in most states due to a high median home value of $540,400. Residents also pay more in income taxes, on average, than any other state, with the exception of Connecticut.

On the plus side, the sales tax rate of 5.75 percent is below the national average. Residents also pay less than the national average to fill up their gas tanks.

Florida: $10,694.25

  • Income Taxes Paid: $6,357.50
  • Sales Taxes Paid: $2,084.88
  • Property Taxes Paid: $1,889.76
  • Gas Taxes Paid: $362.11

Florida is one of seven states with no income tax, so the average income taxes paid here reflect only federal taxes paid. Lower-than-average property taxes also help keep the total taxes paid as a percentage of income to just 21.9 percent in Florida.

Georgia: $13,393.88

  • Income Taxes Paid: $9,561.33
  • Sales Taxes Paid: $2,146.20
  • Property Taxes Paid: $1,361.70
  • Gas Taxes Paid: $324.65

The total taxes paid in Georgia are lower than the national average of $14,998.83. However, taxes actually consume a higher percentage of residents' income than the national average because of a low median income of $50,768 in the state.

Hawaii: $18,194.01

  • Income Taxes Paid: $14,798.36
  • Sales Taxes Paid: $1,333.71
  • Property Taxes Paid: $1,650.04
  • Gas Taxes Paid: $411.90

Hawaii residents have to pay a hefty tax bill to live in paradise. Total taxes paid are among the top 10 highest in the nation — due, in large part, to high income taxes. Residents earning a median household income of $64,514 pay around $14,798.36 in income taxes.

On the plus side, property and sales taxes in Hawaii are lower than the national average.

Idaho: $14,012.17

  • Income Taxes Paid: $10,460.25
  • Sales Taxes Paid: $1,848.80
  • Property Taxes Paid: $1,372.50
  • Gas Taxes Paid: $330.62

Total taxes paid in Idaho — $14,012.17 — are slightly below the national average. However, residents pay a higher percentage of their income toward taxes than the national average due to the state's low median income.

Illinois: $17,798.78

  • Income Taxes Paid: $11,519.99
  • Sales Taxes Paid: $2,649.02
  • Property Taxes Paid: $3,285.96
  • Gas Taxes Paid: $343.81

Hefty property and sales taxes contribute to a high total tax bill in Illinois. In fact, the average property tax bill is more than 50 percent higher than the national average — even though the median home value is below the national average. Overall, Illinois residents pay nearly 30 percent of their income, on average, toward taxes.

Indiana: $12,317.10

  • Income Taxes Paid: $8,826.05
  • Sales Taxes Paid: $2,146.20
  • Property Taxes Paid: $1,003.80
  • Gas Taxes Paid: $341.05

Indiana is a relatively tax-friendly state. The average total tax bill is lower than the national average because income and property taxes are lower in Indiana than in most other states.

Iowa: $16,765.61

  • Income Taxes Paid: $12,375.81
  • Sales Taxes Paid: $2,084.88
  • Property Taxes Paid: $1,976.26
  • Gas Taxes Paid: $328.66

Total taxes paid in Iowa are higher than the national average because residents pay more in income and sales taxes. Total tax paid as a proportion of income also is higher in Iowa — 27.55 percent versus 26.08 percent. However, a 2015 GOBankingRates study found that Iowa is one of the cheapest states for raising a family.

Kansas: $14,489.33

  • Income Taxes Paid: $9,968.50
  • Sales Taxes Paid: $2,642.89
  • Property Taxes Paid: $1,599.60
  • Gas Taxes Paid: $278.34

Average property taxes paid in Kansas are relatively low due to a less-than-stellar median home value. Average income taxes paid also are below the national average because of the state's low median wage. However, Kansas residents are hit by a high sales tax, which is 8.62 percent versus the national average 6.47 percent.

Kentucky: $10,243.63

  • Income Taxes Paid: $7,069.91
  • Sales Taxes Paid: $1,839.60
  • Property Taxes Paid: $1,042.86
  • Gas Taxes Paid: $291.26

Kentucky has the fourth-lowest average tax burden in this study. All taxes paid — income, sales, property and gas — are well below the national average. Income and property taxes paid are particularly low, on average, due to the state's low median income and property value.

Louisiana: $11,364.30

  • Income Taxes Paid: $7,130.86
  • Sales Taxes Paid: $3,059.87
  • Property Taxes Paid: $921.60
  • Gas Taxes Paid: $251.97

Average property taxes paid in Louisiana are among the lowest in the nation, as are income taxes due to the state's low median income of $45,922. Further, Louisiana has a higher-than-average sales tax of 9.98 percent.

Maine: $13,681.36

  • Income Taxes Paid: $9,475.25
  • Sales Taxes Paid: $1,686.30
  • Property Taxes Paid: $2,202.24
  • Gas Taxes Paid: $317.57

Total taxes paid in Maine are lower than the national average. But that doesn't mean residents don't face high taxes. Total taxes paid consume nearly 27 percent of residents' pay, on average, due to the state's low median income.

Maryland: $20,821.53

  • Income Taxes Paid: $15,950.47
  • Sales Taxes Paid: $1,839.60
  • Property Taxes Paid: $2,691.00
  • Gas Taxes Paid: $340.46

Maryland residents pay more in taxes than residents in all but three states. This is largely due to the high income taxes paid in this state, which has the third-highest median income in the nation.

Massachusetts: $20,814.36

  • Income Taxes Paid: $14,475.41
  • Sales Taxes Paid: $1,916.25
  • Property Taxes Paid: $4,127.89
  • Gas Taxes Paid: $294.81

Not only is Massachusetts one of the most expensive states to raise a family, more than 30 percent of what residents earn goes toward income, property, sales and gas taxes. That's a higher rate than all but four states: California, Connecticut, New Jersey and New York.

Michigan: $14,095.94

  • Income Taxes Paid: $10,005.63
  • Sales Taxes Paid: $1,839.60
  • Property Taxes Paid: $1,864.72
  • Gas Taxes Paid: $385.99

Michigan's property tax rate is higher than the national average. However, a low median home value helps keep down the average property taxes paid in the state. Income and sales taxes paid also are lower than the national average.

Minnesota: $20,322.49

  • Income Taxes Paid: $15,585.75
  • Sales Taxes Paid: $2,238.18
  • Property Taxes Paid: $2,190.24
  • Gas Taxes Paid: $308.32

On average, nearly 30 percent of what Minnesota residents earn goes toward income, property, sales and gas taxes. Average income taxes paid are particularly high, compared with other states.

Mississippi: $9,418.63

  • Income Taxes Paid: $6,323.80
  • Sales Taxes Paid: $2,167.66
  • Property Taxes Paid: $683.20
  • Gas Taxes Paid: $243.97

Mississippi residents pay the lowest total tax bill in the nation. Income taxes paid here are the second lowest in the country due to the state's low median income of $40,037. Plus, property taxes paid are among the lowest in the nation as a result of a low tax rate and median home value.

Missouri: $15,614.56

  • Income Taxes Paid: $11,591.25
  • Sales Taxes Paid: $2,419.07
  • Property Taxes Paid: $1,370.04
  • Gas Taxes Paid: $234.19

The total tax bill in Missouri is only slightly higher than the national average of $14,998.83, due to income and sales taxes that are higher than the average paid nationwide. However, property and gas taxes in Missouri are well below the national average paid.

Montana: $11,448.99

  • Income Taxes Paid: $9,662
  • Sales Taxes Paid: $0
  • Property Taxes Paid: $1,484.25
  • Gas Taxes Paid: $302.74

Montana is just one of four states with no sales tax. Property and income taxes also are lower than the national average. As a result, Montana residents see just 22.28 percent of their income, on average, go toward taxes.

Nebraska: $17,120.21

  • Income Taxes Paid: $12,374.28
  • Sales Taxes Paid: $2,112.47
  • Property Taxes Paid: $2,327.76
  • Gas Taxes Paid: $305.70

The total tax bill in Nebraska is higher than the national average. In large part, it's because residents pay more in income taxes as a result of a higher-than-average median income. Nonetheless, residents pay, on average, an amount equal to about 28 percent of their income.

Nevada: $11,505.87

  • Income Taxes Paid: $7,153.25
  • Sales Taxes Paid: $2,446.67
  • Property Taxes Paid: $1,565.36
  • Gas Taxes Paid: $340.60

Nevada has no state income tax, which explains why the state's total tax bill is among the lowest in the nation. However, residents are hit with a 7.98 percent sales tax, which is among the highest in the nation. If you're looking to buy a home in Nevada, best sure to check out Reno. It is the best city to buy a house in Nevada.

New Hampshire: $18,099.15

  • Income Taxes Paid: $13,070
  • Sales Taxes Paid: $0
  • Property Taxes Paid: $4,752.12
  • Gas Taxes Paid: $277.03

New Hampshire has no sales tax. It also doesn't have a state income tax, but the average amount of federal income taxes paid by residents is high because the state has the highest median income in the nation. Residents also pay more in property taxes than the national average paid. In fact, New Hampshire has the second-highest property tax rate in the U.S., after New Jersey.

New Jersey: $22,674.95

  • Income Taxes Paid: $13,765.28
  • Sales Taxes Paid: $2,100.21
  • Property Taxes Paid: $6,445.38
  • Gas Taxes Paid: $364.08

New Jersey residents pay the highest total tax bill in the nation. They also pay the highest percentage of income toward taxes — 33.17 percent, on average. The biggest reason the tax burden is so high in New Jersey is the state's 2.13 percent property tax rate, which is more than twice as high as the national average rate.

New Mexico: $10,942.90

  • Income Taxes Paid: $7,249.63
  • Sales Taxes Paid: $2,314.83
  • Property Taxes Paid: $1,133.88
  • Gas Taxes Paid: $244.56

Total taxes paid in New Mexico are among the lowest in the nation. Property and income taxes paid are well below the national average. This is due, in large part, to a low median income and a low median home value in the state.

New York: $18,462.09

  • Income Taxes Paid: $11,578.22
  • Sales Taxes Paid: $2,603.03
  • Property Taxes Paid: $3,872.28
  • Gas Taxes Paid: $408.56

Like their New Jersey neighbors, New York residents pay more than 30 percent of their income toward taxes. Residents pay a lot on the state's high sales tax of 8.49 percent and property tax of 1.38 percent.

North Carolina: $12,960.53

  • Income Taxes Paid: $9,204.50
  • Sales Taxes Paid: $2,115.54
  • Property Taxes Paid: $1,293.14
  • Gas Taxes Paid: $347.35

The total tax bill in North Carolina is lower than the national average thanks to lower-than-average property and income taxes. However, residents pay more in gas taxes.

North Dakota: $13,381.61

  • Income Taxes Paid: $9,244
  • Sales Taxes Paid: $2,078.75
  • Property Taxes Paid: $1,787.28
  • Gas Taxes Paid: $271.58

North Dakota residents have a lower total tax bill than the national average, paying around $13,381.61 every year. Gas and property taxes are lower than the national average, too.

Ohio: $13,456.62

  • Income Taxes Paid: $8,995.84
  • Sales Taxes Paid: $2,189.12
  • Property Taxes Paid: $1,967.21
  • Gas Taxes Paid: $304.45

Although the property tax rate in Ohio is higher than the national average, property taxes paid fall below the national average due to the state's low median home value of $125,300. Ohio residents also pay slightly less in income taxes overall, forking over just under $9,000 annually.

Oklahoma: $11,666.72

  • Income Taxes Paid: $7,768.50
  • Sales Taxes Paid: $2,716.48
  • Property Taxes Paid: $949.52
  • Gas Taxes Paid: $232.22

Oklahoma has one of the lowest total tax bills in the nation. Income and property taxes are well below the national average because median income and the median home value are among the lowest in the U.S. However, residents are hit by a high 8.86 percent state sales tax.

Oregon: $17,070.59

  • Income Taxes Paid: $13,811.75
  • Sales Taxes Paid: $0
  • Property Taxes Paid: $2,934.12
  • Gas Taxes Paid: $324.72

Oregon is just one of four states without a sales tax. Still, residents pay just over 28 percent of their income toward taxes. They face a high income tax bill.

Pennsylvania: $15,855.58

  • Income Taxes Paid: $11.102.44
  • Sales Taxes Paid: $1,943.84
  • Property Taxes Paid: $2,306.80
  • Gas Taxes Paid: $502.50

At 77 cents per gallon, the gas tax in Pennsylvania is the highest in the nation. Property and income taxes in this state also are higher than the national average. If that wasn't bad enough, the state is also home to one of the worst cities in the U.S. for investment properties — Pittsburgh.

Rhode Island: $16,390.97

  • Income Taxes Paid: $10,165.29
  • Sales Taxes Paid: $2,146.20
  • Property Taxes Paid: $3,735.74
  • Gas Taxes Paid: $343.74

Rhode Island residents pay over 29 percent of their income toward taxes. The big tax bite is due primarily to the state's high property tax rate of 1.51 percent. Income and sales taxes, on the other hand, are on par with the national average.

South Carolina: $11,887.57

  • Income Taxes Paid: $8,659.03
  • Sales Taxes Paid: $2,213.65
  • Property Taxes Paid: $784.30
  • Gas Taxes Paid: $230.58

South Carolina's total tax bill is among the lowest in the nation. Residents pay below-average income, gas and property taxes. Its sales tax, however, is above average at 7.22 percent.

South Dakota: $12,242.17

  • Income Taxes Paid: $7,917.50
  • Sales Taxes Paid: $1,959.17
  • Property Taxes Paid: $2,047.99
  • Gas Taxes Paid: $317.50

South Dakota has no income tax, which helps keep residents' total tax bill below the national average. Property and sales taxes paid also are slightly below the national average.

Tennessee: $10,138.87

  • Income Taxes Paid: $5,983.75
  • Sales Taxes Paid: $2,900.44
  • Property Taxes Paid: $993.60
  • Gas Taxes Paid: $261.09

Tennessee has no state taxes on income, but it makes up for it with a high sales tax rate of 9.46 percent — the second highest in this study. The average property taxes paid, on the other hand, are half the national average.

Texas: $13,690.99

  • Income Taxes Paid: $8,269.50
  • Sales Taxes Paid: $2,511.05
  • Property Taxes Paid: $2,658.53
  • Gas Taxes Paid: $251.90

The total tax bill Texas residents pay is lower than the national average because residents don't pay state income tax. And they pay lower gas taxes than residents in most states. It's no surprise then that cities like Plano, Lubbock and Austin rank among the best cities to live in when you're saving money.

Utah: $17,933.48

  • Income Taxes Paid: $14,028.65
  • Sales Taxes Paid: $2,072.62
  • Property Taxes Paid: $1,550.72
  • Gas Taxes Paid: $281.49

The overall tax bill in Utah is higher than the national average due to high income taxes paid by residents. However, the state does offer a high median household income of about $66,000. Meanwhile, the state's property tax rate is just 0.64 percent, compared to the national average of 1.02 percent.

Vermont: $17,961.50

  • Income Taxes Paid: $11,668.14
  • Sales Taxes Paid: $1,894.79
  • Property Taxes Paid: $4,091.18
  • Gas Taxes Paid: $307.40

Vermont residents pay more in property taxes than residents in most other states. As a result, total taxes paid in this state nearly top $18,000, far higher than the national average.

Virginia: $16,621.85

  • Income Taxes Paid: $12,628.20
  • Sales Taxes Paid: $1,726.16
  • Property Taxes Paid: $2,000.30
  • Gas Taxes Paid: $267.19

Virginia residents have a higher income tax bill than the national average, paying just over $12,600. But it's due, in part, to the state's median income, which is higher than the national average. Sales, gas and property taxes are all lower than national averages.

Washington: $17,101.83

  • Income Taxes Paid: $10,962
  • Sales Taxes Paid: $2,734.87
  • Property Taxes Paid: $2,960.19
  • Gas Taxes Paid: $444.77

Washington has no income tax. However, residents are liable to pay a lot in income taxes thanks to the state's high median household income of $67,243. The state sales tax is also high, at 8.92 percent.

West Virginia: $9,552.02

  • Income Taxes Paid: $6,748.85
  • Sales Taxes Paid: $1,928.51
  • Property Taxes Paid: $542.72
  • Gas Taxes Paid: $331.94

The total tax bill in West Virginia is the second lowest in the nation, after Mississippi. The typical property tax bill is also the second lowest in the nation, due to the state's low property tax rate of 0.53 percent and a low home value of $102,400.

Wisconsin: $15,907.56

  • Income Taxes Paid: $11,131.46
  • Sales Taxes Paid: $1,661.77
  • Property Taxes Paid: $2,777.80
  • Gas Taxes Paid: $336.53

Wisconsin residents pay a higher overall tax bill than the national average because of the state's high income and property taxes. In fact, Wisconsin is among the top 10 states that take the most out of your paycheck.

Wyoming: $12,363.88

  • Income Taxes Paid: $9,382.50
  • Sales Taxes Paid: $1,655.64
  • Property Taxes Paid: $1,047.60
  • Gas Taxes Paid: $278.14

Residents of this tax-friendly state pay only about 20 percent of their income toward taxes — the lowest percentage in the nation. Wyoming has no state income tax, and property and sales taxes in the state are well below national averages.

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The estate tax only benefits the very wealthy. It taxes the estate of a deceased person, but only if the estate is worth more than $5.49 million. And even then, the entire estate isn't impacted. Only the amount that exceeds the $5.45 million threshold is taxed.

For married couples, the estate tax only kicks in on inheritance greater than $10.98 million. That means Trump's own children, for example, would stand to benefit mightily if the estate tax is repealed.

The next casualty of the tax plan would be the "Alternative Minimum Tax."

The AMT was created back in 1969 in order to ensure that rich people, like Trump, could not deduct their way out of paying taxes. At the time, those who earned more than $200,000 were able to avoid paying any federal income taxes, thanks to deductions.

The AMT impacts roughly 5 million tax filers in the U.S., according to the Brookings Institution — one of those filers being Trump himself.

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States that don't tax Social Security
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States that don't tax Social Security

Alabama

The state of Alabama doesn't tax Social Security benefits or traditional pension payments. Property owners in Alabama paid a median of just $556 in real estate taxes in 2015. The state sales tax rate is also a relatively low 4 percent, but there may be additional local sales taxes in some areas of the state. 

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Alaska

Alaska is the only state with no state income tax and no state sales tax. However, property taxes can be high. Homeowners paid a median of $2,979 for real estate taxes in 2015.

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Florida

Year-round warm weather isn't the only perk of retirement in Florida. The state doesn't levy an income tax. Real estate taxes were a median of $1,733 across the state in 2015. The state sales tax rate is 6 percent. 

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Illinois

The state of Illinois allows retiree residents to subtract their Social Security income from their adjusted gross income. Income from federally qualified pension plans and IRAs is also generally exempt from state tax. But real estate taxes are high, costing homeowners a median of $4,101 in 2015. Shoppers also pay a 6.25 percent sales tax on many purchases. 

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Mississippi

Pension and annuity payments and income from Keogh plans and IRAs are generally exempt from state tax in Mississippi, and income from Social Security is also not subject to taxation. Median real estate taxes were just $877 in 2015. However, Mississippi has a relatively high state sales tax rate of 7 percent. 

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Nevada

The casinos and nightlife could be what draws you to Nevada, but you might stay for the low tax rates. Nevada doesn't have a state income tax. The median real estate tax bill was $1,529 in 2015. The state sales tax rate is 6.85 percent. 

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New Hampshire

The only forms of income New Hampshire taxes is dividends and interest. There is also no state sales tax. Property taxes, however, are among the highest in the country. Homeowners paid a median of $5,349 for real estate taxes in 2015. 

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Pennsylvania

Social Security benefits are not included in taxable income in the state of Pennsylvania. Distributions from 401(k)s and similar types of workplace retirement accounts and IRA withdrawals taken after age 59 1/2 are also generally exempt from state income tax. But retirees will have to pay a 6 percent sales tax on their purchases. The median property tax bill was $2,671 in 2015. 

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South Dakota

South Dakota is another state that doesn't have an income tax. Property owners paid a median of $2,025 for real estate taxes. There's also a state sales tax of 4.5 percent. 

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Tennessee

Dividends and interest are the only forms of income that are taxable in Tennessee, and taxpayers age 65 or older with low incomes are exempt. But watch out for the 7 percent sales tax. Homeowners also paid a median of $1,099 in real estate taxes. 

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Texas

There is no state income tax in Texas, but the state raises revenue in other ways. Property owners faced a median of $2,755 in real estate taxes in 2015. There's also a 6.25 percent sales tax applied to many purchases. 

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Washington

Washington state won't tax your income, but it will tax your property. Homeowners paid a median of $2,895 for property taxes in 2015. There's also a 6.5 percent sales tax. 

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Wyoming

Wyoming doesn't levy an income tax. The sales tax is a relatively low 4 percent. Property taxes were a median of $1,256 in 2015. 

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In fact, according to Trump's 2005 tax filing that was leaked in March, the AMT was the reason why Trump paid a majority of his taxes. Without it, Trump would have paid $5.4 million in tax in 2005 — an amount that came to just under 4% of his income that year. The AMT forced Trump to pay another $31 million in taxes in 2005, or roughly $25.33% of his 2005 income.

Treasury Secretary Steve Mnuchin, who helped preview Trump's tax plan, refused to answer how much Trump stands to benefit personally from this tax plan.

Mnuchin also added that Trump doesn't plan to release his taxes, saying Trump "has given more financial disclosure than anybody else" — a bafflingly false statement given that Trump is the only president in more than 40 years to not willingly release his tax returns.

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