Income is relative to a company's profit, after expenses. Saying tax a company's income and not allow for deductions doesn't make sense. You are saying tax a company's revenue/sales. Unless you are confusing income with revenue/sales.
And how would this ever work when some company's operating expenses are astronomical compared to a company with minimal expenses... it doesn't work. You would essentially be penalising all business that are capital intensive.
I get where you are going... the tax system fails because of bull sh..t deductions. However, you can't ignore expenses/deductions.
