The corporate tax, contrary to many people's understanding, is paid by individuals; the corporation sends the check to che government but does not pay the tax. They collect it from their shareholders, employees, or customers. There is still much economic debate as to who bears the incidence (actual burden, not who send the money),of the tax; it would be better to tax the shareholders directly.
People typically like the idea of a corporate tax because it seems like a way for the government to receive some extra revenue without taking more taxes from the people, but sadly this is not true.
Corporations never pay taxes directly, because if they are selling a burger for $1, and the corporate tax rate is 30% of what the corporation makes, they'll just raise the price of the burger to $1.30 so that the customers pay for that tax. The higher the corporate/business taxes rise, the higher the cost of living is for individuals and the more embedded taxes we pay.
On top of this, this tax hurts the economy like all taxes.
Corporate income taxes are needed to help keep the economy going, especially when corporations fail to pay their employees fairly. These monies are astronomical in size, and profits are due to the people purchasing their goods and services. Hence, benefits should go back to the people. When corporations want fewer taxes, they should be willing to pay their employees a living wage.
Corporste income tax should not be eliminated. The money raised from corporate income tax is essential to the total taxes needed by the government. If we eliminate it there is going to be more personal income tax which causes a greater strain on more people. Personal income tax should be eliminated before corporate.