Is that a federal corporation tax at 39%? It can’t be applied to all businesses surely!
It is applied, but the controversy here is that it’s unevenly applied due to the complexity of the corporate tax code. Generally speaking, the megacorporations can avail themselves of all sorts of set-asides in the code, plus leave overseas profits overseas, and thus lower their effective tax rate to around zero.
While, of course, your small to medium sized business, who operates locally and who traditionally are the engines of job growth in the US, are NOT able to avail themselves similarly, and thus get smacked with the entire percentage square between the eyes.