[laughingbovine]

I don't think you can "withdraw" money from a company you own. Probably John Smith Inc. would pay John Smith the 100k/year as a salary... a salary which is taxed. But, then again, the Planet Money article says to eliminate income tax as well.

Their solution: > Instead, impose a consumption tax, designed to be progressive to protect lower-income households.

[nodamage]

As the sole shareholder of a corporation you can pay yourself $0 in salary and issue yourself $100k in dividends instead.