Every year some of the largest corporations in America have a negative tax liability. They make huge profits, and are supposed to be taxed at a rate of 35%. Here is where loopholes and lawyers come in.
Allowing corporations to have an effectively negative tax rate is corporate welfare. It is taking the taxes of hardworking Americans who earned their money, and handing it over to some of the largest most profitable companies in the world.
While the preferable thing to do would be to close the loopholes that allow such a thing to occur, it would be a long and uphill fight. Some of these loopholes are good and help small businesses. So I propose an interim measure: cap the loopholes and tax liability at $0. No more paying corporations for having clever lawyers.