Not really. Much of the money "kept offshore" is invested in the US[1]. Apple's money, in particular, is managed by their subsidiary in Reno called Braeburn Capital. It just happens to be owned by a Caribbean subsidiary.
Think for a minute about the circuitous steps Apple must take just to invest in the United States with overseas revenue. Everyone in the United States should see this as a huge win.
I haven't seen anyone here argue that it's difficult to invest foreign money in the US. Apple's only complaint is that they couldn't funnel the profits from such investment back to their US shareholders, without paying taxes.
Which should be really alarming. The money should go back to shareholders who then individually decide how to best reinvest it. Instead, Apple is making investment decisions on behalf of all of those people. Individuals deciding which endeavors are most worthy of investment is a very democratizing function of the market, and it's undermined by this state of affairs.
That’s the point. Being unable to pay profits to shareholders makes your business very unattractive. If Apple had directly returned its profits every year, over 60% of their profits would be paid to taxes.
Not really. Much of the money "kept offshore" is invested in the US[1]. Apple's money, in particular, is managed by their subsidiary in Reno called Braeburn Capital. It just happens to be owned by a Caribbean subsidiary.
[1] https://www.hsgac.senate.gov/subcommittees/investigations/me...