Tim Cook calls out issues with US tax code in CBS interview with Charlie Rose

Image from 60 Minutes clip via CBS

Image from 60 Minutes clip via CBS

Apple CEO Tim Cook will be on the CBS show 60 Minutes this Sunday in an interview with Charlie Rose. Cook spent part of the interview defending Apple's tax policies, noting that the company pays more in taxes than any other entity in the US in a "backwards" system.

Over two years ago, Cook testified before the US Congress about the tax code and the penalty paid by companies that want to repatriate money held overseas. Apple currently has over $200 billion sitting overseas, and Cook told Rose that he would "love to bring it home." 

Cook's point on the topic is clear:

It would cost me 40 percent to bring it home, and I don’t think that’s a reasonable thing to do. This is a tax code, Charlie, that was made for the industrial age, not the digital age. It’s backwards. It’s awful for America. It should have been fixed many years ago. It’s past time to get it done.
— http://www.cbsnews.com/news/apple-60-minutes-ceo-tim-cook/

After the 2013 testimony before Congress, some American politicians thought Apple was scheming to pay little or no taxes to the US, and when questioned about that by Rose, Cook responded testily "That is total political crap. There is no truth behind it. Apple pays every tax dollar we owe."