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Lenders would not lend if there is little visible (hence taxable) income. A small business geared too efficiently on minimizing tax liability would be unable to borrow. That's another reason why economies facing too high nominal brackets (like some European countries) would have rampant underground/cash/loan-sharking economy instead of open and clear accounting/banking that we have (well, allegedly anyway :-)
posted by 76.118.39...
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