Governments could be receiving an extra $167 billion annually if corporations paid Reagan-era tax rates.
But tax-dodging CEOs complain about high rates all the same.
The announcement followed the unveiling of new U.S. Treasury rules on Monday aimed at curbing such deals.
"Apple pays every tax dollar we owe," Cook said.
The symbolic move will accompany the GOP's symbolic move to repeal Obamacare.
Yet another billionaire demands Congress address his priorities.
As someone who has spent my career focused on domestic economic issues, including a stint of my own at the Treasury Department, I know how important these issues are and how much the people in Treasury can shape policies.
Bill Clinton also called to "give incentives to repatriate … nearly $2 trillion overseas," suggesting that the U.S. grant
By buying out a foreign company and using it as a tax haven, companies that "invert" don't move abroad in any real sense, and continue to benefit from America's infrastructure, education system, security and large consumer market.
We need to start demanding a little more patriotism from these corporations. If they want to keep benefiting from everything our great country has to offer, they need to start showing a little more loyalty to the people who live and work in America.
Staking out a populist stand ahead of the midterm elections, President Barack Obama on Thursday demanded "economic patriotism" from U.S. corporations that use legal means to avoid U.S. taxes through overseas mergers.