system
Given the following post, respond as if you're commenting on Reddit:
human
Why are companies taxed on profit but individuals taxed on income

Is there any economic rationale behind this ? Or is it a policy decision thats more like "it was always like this" ?

How would things change if people were only taxed on their net income, like corporations ?

Edit: I want to clarify here that I am not asking a political question. I understand there are different ways to structure taxation and I just wanted to understand the history and rationale behind this particular taxation strategy. I felt professional economists would have probably thought about this before so I wanted to get their opinion of what issues might be encountered in an alternate regime of taxing net income.
gpt
People aren't businesses, they for the most part don't earn a profit.

>How would things change if people were only taxed on their net income, like corporations ?

They are taxed on their net income from their labor.