In the latest of many bombshells in this presidential election campaign, The New York Times reported Tuesday that in the early 1990s, Donald Trump used a tax loophole so “legally dubious” his lawyers advised him against it. This is how the scheme apparently worked, according to documents obtained by the Times: As the billionaire businessman’s casino empire tanked in 1990, Trump asked his backers to forgive hundreds of millions of dollars in debt.

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