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Profitable Losses, or How Trump Trimmed His Taxes: QuickTake

How does a billionaire pay next to nothing in federal income taxes? The simple answer is by losing money. But a New York Times report on how President Donald Trump has consistently whittled down his tax liability shows how complicated that approach can be in practice.

How the U.S. Tax System Fostered the Rise of the Wealthy

Sep.29 -- James Galbraith, professor of government for the Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin, spoke Sept. 28 on "What'd You Miss?" about the New York Times article on President Donald Trump’s tax returns and how U.S. tax laws evolved to benefit the wealthy.

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