[B.Bumbleberry]

Laffer, of course, is right except for the corporate taxes. Every business's customers pays for its corporate taxes. In other words, they're just passed on to us. So better to do away with the corporate taxes altogether. Business risks are lowered and businesses are more competitive. Better to increase personal taxes to make up for the losses than to have indirect taxation that increases the costs and risks of businesses to accomplish the same thing.

[Forgiven_Sinner]

" Laffer, of course, is right except for the corporate taxes. Every business's customers pays for its corporate taxes. In other words, they're just passed on to us. So better to do away with the corporate taxes altogether. Business risks are lowered and businesses are more competitive. Better to increase personal taxes to make up for the losses than to have indirect taxation that increases the costs and risks of businesses to accomplish the same thing."

You are correct. This is Milton Friedman's point of view. The only exception I can think of are foreign corporations. They would not be taxed and their US profits would flow to foreign stockholders. I would tax any profits that flow out of the US.