IMO corporate taxes should be zero. This funnels money to industry and removes incentive for multinationals to shuffle money to offshore tax shelters.
What should be dramatically increased is taxes for high income earners. Tax consumption not production.
To do it right though would require closing off any tax loopholes where personal spending is portrayed as a business expense The practice of buying corporate jets, yachts, homes,etc... for use essentially only for execs... needs to end. I'd laos have much higher sales taxes on high ticket items (exotic cars,memberships to high end clubs, first class seating, etc). Create an additional flat tax based on residence type. People living in large mansions or multiple residences shouldn't be able to walk away without paying annual taxes no matter what voodoo their accounting teams and lawyers claim.. If they can't afford to pay, sell the mansio and move into something smaller. There are a wide variety of other similar taxes we could introduce to deal wtih extravagant spending.
In real world practice it really doesn't matter who owns a company. What matters how money made by that company ends up in lifestyle. if someone rich wants to frivivoully spend on them themselves then the public (i.e. workers in their companies that made them rich) should see a chunk of that money to improve their own quality of life. And if someone rich doesn't spend frivolously and that money is going to improving industry it leads to everyone winning.
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