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It's called Center-of-Gravity (COG). When you lift a vehicle, you raise it's COG, it's more likely to roll onto it's side when in an off-camber situation offroad or an emergency evasive manuever onroad. If you go up, it's a good idea to go out and increase the track width to counteract the raising of the COG, making the Jeep more stable. It can be done with stock axles, and yes it increases stress to the stock axle shafts and wheel bearings.
But then again, so many jeepers do it just for looks :roll: [addsig]