Eliminate corporate income taxes and raise personal income taxes to 1944 levels.... [View all]

[steve2470]

What would be the consequences ? I'm asking this because it seems large corporations are seeking other countries because of our supposedly "burdensome" corporate income taxes. Of course, if the corporate income tax was abolished, the treasury would take a massive hit, and that income would have to be replaced somehow.

I know there would be massive resistance from the wealthy to this idea, but, hey, no more corporate income taxes !

Feedback please. I'm not an economist or CPA, so I don't know what the unintended consequences would be from this idea.

Thanks, Steve

eta: 1944 taxes info here