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Trump's Tiny Taxes

Trump's Tiny Taxes

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Chip Somodevilla/Getty Images
WASHINGTON, DC - OCTOBER 26: Republican presidential nominee Donald Trump (C) and his family cut the ribbon at the new Trump International Hotel October 26, 2016 in Washington, DC. (Photo by Chip Somodevilla/Getty Images)
Chip Somodevilla/Getty Images

One way to avoid paying taxes? Lose a ton of money. The tax code rewards your losses. And these losses are gifts that keep on giving, for years into the future. And even ... backwards into your past.

Today on the show: We dive into the part of the American tax code reportedly used by President Trump to get his tax bill down to nearly zero. We explore the history of why this practice exists, and how it evolved. It's a story about workarounds and toy wooden arrows, a seemingly shady Treasury Secretary ... and a little something called a "quickie" refund.

Music: "Selfie Squad," "Polar Chill," "The Funky Lowdown," and "Fatback."

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