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The president and son-in-law and top advisor jared kushner the possibly to save millions. >> coincidental or not, he's very sympathetic to the argument that past due income should be reduced from 39 to 15%. >> reporter: that's not all. the plan calls for the elimination of the alternative minimum tax, a system designed to make it more difficult for wealthy taxpayers to underpay. without it he would have paid only $7 million in 2005, a saichgs of nearly 31 million bucks. steven ma nush arn said taxpayers won't be able to game the system. >> we will make shurp that rules are in place so wealthy ...

The personal side. and i would just say on the dividend rates, we believe that restoring the 20% capital gains rate is the critical to investment in this country. >> mr. secretary? >> a question about your pass throughs. the initial plan that the president as a candidate outlined also included freelance or contract workers in that 15%. what's your rate on repatriation of funds overseas and gary cohn, what about the marriage penalty. >> first i'd comment on the rate of repatriation. we're working with the house and senate on that. i will say it will be a very competitive rate that will bring ba...

Rates, we believe that restoring the 20% capital gains rate is critical to investment in this country. >> reporter: similar question about the pass-throughs. the initial plan that the president as a candidate outlined also include contract workers at 15%, what is your rate on repatriation funds overseas and gary cohn, what about the marriage penalty that the president promised to eliminate? >> first i comment on that rate of repeat repatriation, rubric and with the house and senate on that, but it will be a very competitive rate that will bring back trillions of dollars. and as it relates to t...

Are you talking about limiting tax deductions, which when are you talking about eliminating, which are you keeping? >> correct, we are going to eliminate on the personal side all tax deductions other than mortgage interest and charitable deductions. we think that will be sweeping reform. >> reporter: think you paid when you talk about lowering dividends and capital gains taxes, how does that mesh with what you said this morning about protecting the middle class from the very, very wealthy who might be able to take advantage -- and i know a better word than loophole, but that would give them a ...

Also talking about eliminating some of those tax breaks. are you talking about eliminating tax deductions and which ones are you talking about eliminating and which ones are you talking about keeping? >> we are going to eliminate on the personal side all tax deductions other than mortgage interest and charitable deductions. we think that will be sweeping reform. >> adam? >> thank you. when you talk about lowering the dividends and capital gains taxes, how does that mesh with what you said this morning about protecting the middle class from the very, very wealthy who might be able to take advan...