Hi Wes,
I've managed to find perfect explanation for you from Google itself. Please refer following URL :-
Duplicate content - Webmaster Help Center
Quote:
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Duplicate content on a site is not grounds for action on that site unless it appears that the intent of the duplicate content is to be deceptive and manipulate search engine results. If your site suffers from duplicate content issues, and you don't follow the advice listed above, we do a good job of choosing a version of the content to show in our search results.
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