This argument falls apart when you recognize how and why companies become eligible for tax deductions. The top 3, according to the CBO, are exclusions stemming from providing health insurance, pension contributions, and capital gains & dividends. By doing so, companies actually accept a huge burden that would otherwise be left to taxpayers, like paying healthcare costs and providing an income for eligible retirees & spouses.

Cap gains & dividends -- while they certainly enrich corporate management and wealthy owners -- are the primary means through which massive public pension funds (like CalPERS) provide the benefits promised to public employees. And if you want to take it further, probably the biggest incentive to get people to work in the public sector at all, is the promise of a generous pension post-retirement. (and even further -- all that money is taxed at the individual level, albeit at a different rate, but certainly not tax-free)

One might even make the argument that a company that refused to provide any retirement benefits, refused to offer health insurance, and which refused to return any capital to investors, is the one that is immoral.

https://www.cbo.gov/publication/52493