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I don't understand how this would work. You would tax corporations based on actual income? So money-losing businesses would have to pay taxes on their income even though they operated at a net loss? And low-volume/high-revenue businesses would pay less in taxes than high-volume/low-revenue would?

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One of the problems is that net loss is fictional. Companies use well meaning tax credits and deductions to offset income. His point is fair but the specifics need a little tweaking.

I am agnostic on if it should be based off of income or profit and leave those sorts of details up to congress.

> leave those sorts of details up to congress.

Yep, let's leave it to the "experts".

Policy "details" tend to have drastic unforeseen consequences, and our congress-critters tend to defer responsibility of those details to lobbyists.

We the Constituents\People\Voters have a responsibility to do our own thorough research and not allow Congress to figure out the details.

Precision matters and details can make all the difference between a good policy and a destructive policy.

How can one possibly do this? The amount of regulations/laws produced is so enormous, it is impossible to keep up.

The good news is that in my plan, you don't have to care. Unless you are the cfo of a company, or an accountant.

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