Republican (proto-fascist/socialist) de facto President Taft (a resident of the federal enclave of Ohio) addresses the Republican 61st Constitutional Congress (elected in accordance with Article I, Section 3 [Clause 1]) on his desire for a two-percent federal tax on corporate—not personal—profits (incomes):

      I … recommend an amendment … imposing upon all corporations … an excise tax measured by 2 per cent on the net income of such corporations.  This is an excise tax upon the privilege of doing business as an artificial entity and of freedom from a general partnership liability enjoyed by those who own the stock.

       [restored 6/3/2022]