Income from a corporate entity is taxed twice by the time it gets to an individual. If I own a corporation and live in California, first I pay 21% on the profit

Income from a corporate entity is taxed twice by the time it gets to an individual. If I own a corporation and live in California, first I pay 21% on the profits and then 52% on what is left before it gets to my bank account. At these rates, This means the government takes 72 cents out of every dollar of profit.