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Louis R. Woodhill has written an excellent piece explaining how taxation affects business. It’s a lengthy piece, and I had to read it twice, but it has some excellent points in it that Obama supporters cannot afford to misunderstand. It’s one explanation why good intentions and what appear to be good ideas for economics that sound good and look good on paper, but do not take into account residual effects and unintended consequences, especially consequences directly antithetical to the purpose of the good intentions and ideas.
It’s well worth reading.
