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How Max Baucus's 'tax reform' can hurt competition and kill business creation

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If you're a business, the best way to get fat profit margins is by erecting (or finding yourself surrounded by) barriers to entry. If you're making lemonade at 30 cents a cup and try selling it at 75 cents a cup, a neighbor is going to see an opportunity to undercut you, selling at 65 cents a cup. Thus in fluid, liquid industries, competition — or even the threat of competition — keeps...

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