At the very least, the idea that any decrease in rates implies a decrease in government tax revenues in short term is debatable, and in the long run is exceeded by increased growth rates [0].
I think it's pretty logical that with lower corporate tax rates, we would see an increase in business activity in the economy therefore not necessarily less revenue, any more than a business decreasing prices always equals lower revenues. I think it depends.
I think it's pretty logical that with lower corporate tax rates, we would see an increase in business activity in the economy
Ask the state of Kansas and its "March to Zero" tax plan how that turned out.
Hint: it's been plenty of time for these policies to have their effect, and business is not booming and the budget deficit is blowing up like a balloon.
So basically the Laffer curve? [0] It's definitely an intuitively appealing idea, but the point at which government revenue is maximised might occur at a much higher tax rate than you think (if the empirical work in this area is to be believed, which is a tenuous proposition either way). Also worth remembering that the government revenue maximising tax rate is very unlikely to be the economically optimal tax rate.
At any rate, barring some kind of international agreement on minimum corporate tax rates (which seems unlikely), there will always be incentive for governments to lower corporate tax rates to attract foreign capital (though I think the argument is less strong in the case of the US compared to a smaller open economy).
> I think it's pretty logical that with lower corporate tax rates, we would see an increase in business activity in the economy
But it is not logical to assume that this would, at all tax levels, be enough to offset the loss of revenue due to the rate cut. Given that the US has a low effective rate of corporate taxation despite high nominal rates, it is very unlikely that a decrease in corporate taxes would fail to decrease revenue in the US.
OTOH, if you want to stimulate hiring and economic activity, a really good tax to cut is payroll taxes, but even there you probably still lose revenue, so you probably need to increase some tax that has less direct effect on employment, like top-end income taxes.
I think it's pretty logical that with lower corporate tax rates, we would see an increase in business activity in the economy therefore not necessarily less revenue, any more than a business decreasing prices always equals lower revenues. I think it depends.
[0] https://taxfoundation.org/corporate-tax-cuts-increase-federa...
edit: You were probably specifically referring to individual tax rates. Though I would put forth a similar argument as above.