Completely eliminate the corporate income tax, and only tax individuals.I thought corporations didn't pay income taxes.
Your thinking follows or parrots the "conservative" mindset but I like to try and think outside the box.
Why not tax only corporations and NOT TAX individuals. Which one has more clout with government officials for taxes and spending? Which one would result in increased savings? Who would benefit more from tax reductions thereby use their clout to put pressure on Congress etc.?...You might say it would drive them out of the country, as if they aren't leaving anyway?
The difference is the compliance burden. Businesses have to take that expense out of their profits or add to their prices. Individuals eat the compliance expense — record keeping and tax prep time comes out of their personal ‘free’ time.
So I think there is more value to the economy by eliminating the taxes and the compliance costs from business rather than the individual.
There is also the fact that if the tax is all on business, it is easy to manipulate because it is buried in the cost of products and confused by the various profit margins in different products. A tax on the voter is a tax that can be hated and the pressure to lower it used to force smaller government.