In a socialistic country it’d go to the government and the government would then go after whatever the shareholders received.
This certainly shifts the burden directly on consumers, but what must be realized is that consumers are already indirectly burdened. Imagine the savings to ALL businesses in just not trying to avoid taxes and preparing tax returns. This is a matter of focus. Businesses would be able to focus on the business of serving their customers and not a bunch of other things that have nothing to do with serving their customers.
Imagine the influx of foreign businesses to America. Imagine the competition for employees - increasing wages, reentry of those that have left the workforce and the incentive for the lazy and illiterate to do the things to be part of the workforce. (Combine the elimination of business taxes with the elimination of welfare spending and the takers are forced to become makers.)
To the naysayers that say lawyers and tax accountants would never let this happen, it is time for you to get with the program and denegrate those that benefit from the tax code. If there are any lingering lawyers and tax accountants reading this, you better man-up. If you are so smart and so capable to the comprehend the tax code, then you are smart enough to add real value to businesses.
It’s unfortunate that a larger and larger part of the electorate loves Progressives and their message of acquisition by fiat. (Mr. Stalin would be proud.)
IMHO