A corporation which doesn't report a profit (i.e., revenue exceeds expenses) doesn't have any income from which to pay taxes?

Stop the presses!

What would some of us suggest? Taxing the total revenue and running our corporations into the ground by doing so? Maybe force them to lay off huge portions of their work force or outsource oversees?

Remember that all of these companies pay salaries and that a large part of the federal tax revenue comes from the personal income tax and that these companies provide all of that personal income.

Do we not think it's okay to capitalize office equipment? Take a deduction for the depletion of a resource one owns (since the asset has lost value)?

As for credits, which credits would we propose to get rid of? Congress uses tax policy to help stimulate certain parts of the economy. Anytime a corporation succeeds and pays salaries and benefits, there's another taxable event.

I can't justify taxing an individual who has no income, so why can we justify taxing a corporation which has no income?

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