Re: Corporation tax should be abolished
"A tax on turnover would be more efficient and harder to avoid though rather painful for companies that were genuinely loss making."
Genuinely loss making businesses are in trouble any way. A turnover tax would push a lot of genuinely profitable-but-only-just businesses into loss. That puts their employees out of work. That then increases costs for the country supporting the unemployed. That pushes up taxes so the turnover tax has to go up and make more businesses unprofitable.
Nothing's easy when positive feedback loops are involved.