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Export-Import Bank's advantage: Unlike corporate welfare, free enterprise isn't a special interest

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If you have a corporate-welfare bank that costs all taxpayers, combined, $2 billion a decade, and it provides almost all of its subsidies to a handful of politically connected companies, congressmen will hear a lot more lobbying in defense of the corporate-welfare bank than in opposition. This dynamic is called "concentrated benefits and diffuse costs." And it's the reason corporate welfare...

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