Enlarge / Apple CEO Tim Cook. (credit: Chris Foresman)
In an interview last weekend with 60 Minutes, Apple CEO Tim Cook defended his company’s use of the legal overseas tax maneuvering that effectively keeps tens of billions of dollars in would-be American tax revenue out of the country.
In a short back and forth with host Charlie Rose, Cook gave a very legalistic—though accurate—answer as to why Apple does not repatriate its mounds of cash. Cook said that Apple pays more taxes in the United States than anyone else.
After all, it is the most profitable company in America and the second-most in the entire world.
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