anything would be better than what we have...
We have the worst of both worlds currently and the status quo blows.
We could not tax companies at all and instead collect more money from individuals' incomes. That might require quite a lot of tax fiddling to accommodate tax brackets and not give some people a free ride. And it might require adjustment as well when foreign shareholders withdraw their gains. Complicated? Yes. Patently unfair? No, as long as individuals were taxed on the increased cash flows coming out of companies.
We could instead tax companies at a fixed rate (preferably low in my opinion), based on revenue location, and actually collect the money. If say, Ireland, wanted to keep corporate taxes low (good thing, imho), it could, but that would be limited to profits earned in Ireland.
That would improve most of our governments' financials. Hopefully (but not holding my breath) those governments would then use the money to cut their deficits, not create white elephants or bribe the voters with useless spending schemes.
However, we do neither of these. Instead, we end up not collecting money, but we do have those taxes on the books, along with complicated, but effective, loopholes. Companies pay little taxes, but we are not all at option a). Instead of company profits being transparently released to shareholders, it is spent employing hordes of pricey tax accountants and playing complex shell games. Those accountants don't create value as such, they are merely the cost of doing business because our tax red tape is too complicated. Government lawmakers are coddled by lobbyists advocating this or that tax cut - all worthy causes, you know - and constantly tweak laws needlessly.
To extend the argument beyond companies, it is the same for rich people. They spend lots of money tweaking their holdings to minimize tax. How about the government simplifies its tax rules and make it so an average intelligence individual can fill out their own taxes? Then bring down the top tax brackets so that rich individuals pay roughly as much as now, but without being able to resort to loopholes or needing to invest in weird questionable government-approved pet projects. Not to mention that capital gains money is somehow thought to deserve much lower tax brackets than employment income - easier to treat them all more equally and lower them overall.
Yes, the tax accountants and lobbyists do well out the current system and you can bet they'll fight every inch to keep things as complicated and loophole-riddled as possible.
The one thing we emphatically should not do is to allow high-tax jurisdictions to level the playing fields upwards by having every country bring up its taxes. Long term, the less tax is needed to fund deserving services, the better so inefficient countries need to solve their problems, not export them.
My exposure to the downside risks this article warns about? Probably some, but hardly a reason to keep such a dumb system the way it is.
Biting the hand that feeds IT
