The Giant Loopholes in Our Tax Code

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Republican presidential candidate Donald Trump speaks at a rally, Saturday, Oct. 1, 2016, in Manheim, Pa.

David Cay Johnston, Daily Beast columnist and author of The Making of Donald Trump (Melville House, 2016), explains how Donald Trump managed to use existing tax laws to declare a $916 million dollar loss and avoid paying federal income taxes for many years, as well as who else manages to benefit from these giant loopholes in the tax code and makes a proposal on how to eliminate them.