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I would agree with what SportsDino said and just add a little. Placing taxes on "revenue" is an instant jump in inflation for the good or service being taxed.
It is more beneficial to have a corporation employing people, who contribute to the economy, and not be taxed if they (the corp) have legitimately not made profit.
You will also create a massive disincentive for innovative entrepreneurs to form startup businesses and take any risk. This would lead to stale markets, larger/entrenched legacy companies, etc.
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