All income after tax deductions is taxed. And once your business hits $75,000 you enter the 30%+ tax bracket.
But whether or not it's in the 30s percentile or 17th percentile, if individuals didn't pay income tax and businesses didn't pay corporate tax, we would become a very prosperous country generating very full production, i.e., assuming we made the appropriate spending cuts in the defense budget and welfare programs.
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