Aside from the different handling of capital investment vs expenses, "deciding [not] to reinvest" is not the only factor that determines a company's net income.
Take a company that loses $100M one year because of a natural disaster (like a pandemic), just manages to stay afloat by taking out loans, then makes net income of $50M the following year.
The company has net-lost $50M over two years and incurred large debts, and now has a huge tax obligation on the $50M, before they can start paying their lenders back.
A company in that situation may be better off shutting down, leading to huge job losses for the employees and trading partners, and an overall loss of tax payments that the company could otherwise have generated long into the future.
Your line of argument seems to be that it's always important to get the most possible tax out of a company in any given year, no matter the overall net outcome for society over the long term.
