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Should we give up on taxing companies?

International companies have smashed the old pact—enjoy the privileges of limited liability and pay tax in return. Only a radical answer will do—accept that corporation tax is a lost cause

By Charles Dumas   February 2015

A cartoon from 1883 shwoing workmen supporting the lumber, paper and linen industries as wealthy businessmen recline on top. © Stock montage/Getty images

One of the awkward questions left exposed by the ebbing of the financial crisis is whether the “limited liability company,” a cornerstone of the world’s economic system for more than a century, played a part in causing and prolonging that crisis—and now needs…

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