Trump: 'Of course' I used $1 billion loss to avoid federal income taxes

Republican presidential nominee Donald Trump responds to a question during the town hall debate at Washington University on October 9, 2016 in St Louis, Missouri.

Scott Olson | Getty Images

Republican presidential nominee Donald Trump responds to a question during the town hall debate at Washington University on October 9, 2016 in St Louis, Missouri.

“All (Clinton’s) friends” take advantage of tax loopholes, Trump contended, citing billionaire Clinton supporters George Soros and Warren Buffett. Clinton fired back by saying “Donald always takes care of people like Donald.”

Both candidates were asked how they would reform the tax code to reduce loopholes for the rich. Trump has admitted to using those rules to minimize his tax burden, saying he “brilliantly” used them to his advantage.

Trump claimed a…

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