There's a problem with taxing money extracted from the business as well. Business owners can just go on "company" vacations, drive corporate cars, etc. This alr

There's a problem with taxing money extracted from the business as well. Business owners can just go on "company" vacations, drive corporate cars, etc. This already happens to an extent. Without corporate tax, wealthy business owners probably won't pay any tax at all. They'll just pay themselves with absurd benefits from company accounts. Or perhaps, just endlessly take out loans against their ownership stake. No taxes if you never pay them back