When you tax people directly, you recover money earned by people through corporate stock buy backs and dividends. Those are all taxable income.
Yes but the goal of the bill (and any time someone brings up reducing taxes on corporations really) was economic grow, which never happened.
Also capital gains tax is unfair to lower income individuals. We can invest money and afford to wait a year to see gains (and the obscenely cheap 15% tax rate). Most individuals cannot even invest, yet alone let their money sit for a year.
The myth that lowering taxes on corporations results in economic growth needs to die.
https://www.nytimes.com/2008/06/24/business/worldbusiness/24...
"A 2007 academic study by Roy Clemons, then a graduate student at Texas A&M University, that was based on earlier data, found that the tax break did not stimulate investment in the United States economy and that repatriated money was often used for disallowed purposes, like stock repurchases."
https://fas.org/sgp/crs/misc/R40178.pdf
"While empirical evidence is clear that this provision resulted in a significant increase in repatriated earnings, empirical evidence is unable to show a corresponding increase in domestic investment or employment"