It makes no sense to tax it. Corporate profits are at record highs, but corporations are paying less tax than ever before. While on paper corporate profits have nearly doubled since 1992, after taking inflation into account, they are lower than they were in 1987. It should also be noted that profits taxes are only a part of what corporations pay to governments. Corporations can afford to pay a little more so that Canadians do not pay for government cost cutting.
Salaries fall, prices rise, and shareholder dividends shrink.
Shareholders seem like invisible people, which is perhaps why corporations make an easy target for social activists. There is no complete survey of who owns stocks in Canada, but some examples can give a clue. The fact that in the end individuals pay the corporate tax makes Corporate Tax Freedom Day a meaningless measure of who pays taxes in Canada. Corporations are the only ones to get tax breaks. Unions control a third of all venture capital funds in Canada.