I love the response, “But this could mean we’d have to pay more!”
… and?
Fun fact, these back taxes are higher than the share value of the entire company (~$11bn market cap).
But it’s only back taxes on profits we know about
Sure, it might be prudent to always assume any reported white collar crimes are at least one order of magnitude greater than we get to know. That said, I was really impressed with their stock ticker company description blurb where they strive to “honor God” in all their works.
Assuming they’re referring to the Christian God, a selfish, emotionally unstable mega toddler, their behavior would be appropriate.
Do people upvote these comments without checking anything? Does it sound reasonable for one of the largest companies in the world to be worth only $11 billion?
The Coca-Cola Company is worth $296 billion. I don’t think they’ve been worth only $11 billion since the '80s.
I’m going to stop using this site, as it currently states a market cap of “11,091,895,682” dollars. Thanks for the correction.
That’s a US bottling company that buys from the actual Coca-Cola Company.
The company was formerly known as Coca-Cola Bottling Co. Consolidated and changed its name to Coca-Cola Consolidated, Inc. in January 2019.
https://finance.yahoo.com/quote/COKE/profile/
These bottling companies are the ones that beat people up in developing countries, not the actual manufacturer. They can be confusing.
You’ve got to be fucking kidding me.
Well, I at least stand by my earlier point, that white collar crime is usually way worse than is ever reported.
Good. I hope it hurts.
This sort of stuff is why the corporate veil needs to be abolished. If they’re not criminals, then they can buy insurance.
But the IRS will come after meeee! /s
Which works out to around $29,200,000.00 / DAY in profits, not even total revenue but actual in the pocket profits, for selling sugar water with some flavor additives…
Did you know it doesn’t even have cocaine in it anymore? What a ripoff!
When did they quit putting cocaine it? If I’d known that then I wouldn’t have been buying it anymore!
Coca Cola ensured that international drug laws grant them an exception to use real coca leaves (with the cocaine extracted from them first). Oddly enough, they could still make their cola taste the same without the leaves. The reason they still use them is because they likely wouldn’t be allowed to call it “coca” cola it it had no coca leaves. The name was so recognizable that they asked for an exception to drug laws rather than change the name of their drink.
Branding is one helluva drug
The other reason is they make a good profit selling medical cocaine.
Sounds like an excuse to extract cocaine to me
Eh, works for me. BRB, making a new product called coca tea, for the… uh… tea.
The fact that there are so many legal loopholes to use to save from paying taxes, the fact they go this far to avoid taxes is disgusting.
I wish they’d pay the taxes in the country the drinks were bought. Even if the US manages to scrape back some, that’s only one country seeing the taxes owed.
it is just an inevitable consequence of money and lobby based politics. Whoever contributed to turn US elections into something like a pro wrestling match event is to blame
When you’re a billion dollar company, It’s cheaper to bribe politicians than it is to pay taxes.
There’s a supreme Court judge right now who was giving companies favorable laws for like a pack of twizzlers.
How would that help! Coke sells cola, not Twizzlers! /s
Fun fact, most laws are written by the corporations to which they apply. There’s no possible way for politicians to actually write all of the laws, so they rely on their corporate
paymasterslobbyists to go ahead and write them, then have their staff skim through it all, and then sign off on it before it goes off to the chamber for a vote.
Anyone who tells me “there’s not enough money to go around” in the future is getting punched. I don’t care if I catch an assault charge. That propaganda was bullshit the first time I heard it and it’s always been propaganda.
So they jack up thr prices of their products
How much can they jack up their prices? It’s already like $10 USD for a 12pk of soda.
In the machine where i work they are $5 for one 12oz can
Are you, by chance, a Sherpa stationed half way up Mt Everest?
The middle man is taking you for a ride there. Soda is not that expensive.
Where you work is the problem lol, not coke in this instance. A can is like 50 cents
Is this part of the pay off to Biden’s IRS funding increase?
Willing to bet the 16 bn is not really a year and a half of profits lol
In a Securities and Exchange Commission filing in 2015, Coca-Cola said it had been following the same method to calculate its taxable U.S. income from foreign affiliates for nearly 30 years.
So as tax laws changed, Coca-Cola just kept doing the same thing. Just go ahead and admit to fraud, I guess. Interesting strategy.
What, do you expect the Coca-Cola corporation to hire accountants and lawyers to keep track of changes in tax law?
you hire ONE accountant and have to pay the govt 16bn
i dont even know why soft drinks are so wide spread. theyre unflavorful and not even that cheap anymore
Soda is literally an assault on your taste buds… Your tongue is completely numb 😂
Unflavourful?
There are so many things you can complain about and you pick the one things so false an entirely new genre of soft drinks had to be created to tone shit down. Eg; flavored seltzers
You may actually have a medical issue affecting your taste buds, or you’ve never drank a real soda.
Shorting their stock in 3, 2, …
Tweeted from my iPhone because I will shame any company except Apple
I think you are lost.
that’s mastodon
It would be nice to have nice things associated with American infrastructure, again.
