CS:GO (and all other source games) do the same lag compensation as CS did (though it's horrifically buggy, but it was pretty messed up in 1.6 as well). People seriously underestimate how impossible it is to play fast-paced games without it - you wouldn't be able to hit a HS on a moving player in CS:GO even with ~30ms ping without leading your shot if that wasn't there.

It's also not actually why you rubberband - that's just caused by your own latency (moving while already dead). It does mean you can get hit after moving behind a wall though.