While I agree with your comment, its a bit more than that.
Place your EU HQ here, hire one person to watch the shop. We'll give you the lowest tax rate in the EU so you can make billions.
Do this and you starve communities of their tax revenue that they need in order to provide infrastructure to their population.
If you looked at it that way... then the budget shortfalls in the state of California would be non-existent because of all of the tax revenue paid by the companies like Apple. In fact one year of repatriated funds to the US would probably clean up a lot of the debt issues in California. (Noting that state taxes are separate from federal taxes.) Of course having said that... politicians will find ways to waste money so its probably a wash. (But you get the point... ;-)