Opinion

Corporations are cheating the global tax system. World leaders can’t afford to ignore it.

There is no gap in the architecture of globalization more serious than the failure of nations to prevent global companies and wealthy individuals from escaping taxation through tax havens, accounting devices and pressure to bring down business tax rates.

Consider, though in a stylized form, the predicament of a middle-aged worker in the U.S. manufacturing industry. He might put his concerns this way: