To allow corporations to not pay taxes, thereby allowing owners of corporations to accrue wealth without paying taxes?

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

The way it works is, that corporations are persons, but very special kinds of persons, persons who can split themselves up into parts and sell the parts off, so while the corporation never sells the property to cause a taxable event, the corporation itself is constantly being bought and sold.

This simple fact was not made clear to the voters who gave us Prop 13.  Maybe smoke and mirrors got in their eyes. They of course replied, something deep inside, cannot be denied.