Much like a 21% corporate tax rate (lowest in a century) juicing the deficit to record highs.
All of the money that corporations earn (and would be taxed on this way) will always be taxed as income before it's distributed to an individual, after all, no? Corporate tax never fully made sense to me.
Those would be shifted to individuals. You'd see an uptick in high earners trying to avoid taxes. It's just a question of whether high earners would be better or worse at hiding income than corporations.