Gianna Miceli traces how corporations, created in the 1600s to fund risky ventures like colonization, evolved into modern structures that enable taxation. The LLC arrived in 1977, designed for oil and gas development. State structures function as privileges that let governments tax citizens' money.
State structures are privileges granted to tax our money. We've had corporations since the 1600s. They were designed for pooled capital funding for dangerous overseas expeditions, like making colonies, ships, and railroads. Does anybody have a corporation? I bet you do. I bet lots of people here do. Then we had the LLCs, limited liability companies. They're as young as 1977. 1977? I was in 5th grade in 1977. They were designed to create oil and gas attraction out west.
