"shift the point of taxation" implies that there is only 1 point of taxation. That's wrong. With regular corporations, there are 2 points of taxation: the owner

"shift the point of taxation" implies that there is only 1 point of taxation. That's wrong. With regular corporations, there are 2 points of taxation: the owner/shareholder, the corporation. S Corps eliminate the 2nd point of taxation. It doesn't simply "shift" the tax burden, it eliminates an entire additional class of taxes.