The corporate profits that are being taxed normally would get distributed to shareholders via share buybacks or dividends (so will appear to them as capital gai

The corporate profits that are being taxed normally would get distributed to shareholders via share buybacks or dividends (so will appear to them as capital gains or income). Taxing this is basically taxing money earned from owning things vs money earned from working. I'm not aware of a consensus that one is always better than the other. I would imagine it would depend on the circumstances of the economy and what the current tax rates are. If you tax income from owning things too much, that would probably discourage saving and investing money, but of course taxing wages discourages working (and lowers the after-tax income of workers). I would say that in the current environment, the cost of money (interest rate) for companies that want to make investments (building housing, factories, etc), is already pretty low by historical standards. One of the common problems with the corporate tax is that it's hard to say which country the profits belong to (global companies can shift the profits around very easily by changing the prices their international subsidiaries charge each other). The article is an attempt to address the profit-shifting issue. There are also other ways to address that, but they might be harder to implement since they would involve more substantial changes to the tax code.