They’ll pay up… Pay up to the wealth defense industry.
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
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.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
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
So, now that the US has 16 billion more dollars than they planned for, surely they can cancel all student loan debt and build affordable housing, right? They won’t just throw it at military contractors and directly redistribute it back to the wealthy, right???
don’t be silly
it’ll get appealed and fought over and over until it’s down to 600 million
they’ll pay back 300 and we wont hear anything else about it for years until someone mentions Clarence Thomas getting a new 300 million dollar golden calf statue around the same time
Your crazy if you think Clarence is getting $300M. Studies have shown lobbying works for shocking little sums of money. Couple of first class tickets to a resort and a month there, easily under $30K.
my sentiment remains, even if the specifics are inaccurate
So you’re kinda right and kinda not.
Roughly what actually happens in cases of massive back-taxes likes this is that the movement of funds is tracked back through to the municipalities where they initially failed to pay. From there the actual unpaid amounts are calculated for each level, then priority weighting is assigned (if the total sum was reduced to less than the delinquent payment), then the repayment schedule is calculated for each municipality, and finally the IRS takes the cost of remediation investigation from the top (probably about 1.5 mil for this one) and begins repayment.
That ‘repayment schedule’ means that the funds not immediately disbursed can be loaned out (most often to other government agencies) (there’s a term for the specific kind of loan this is, it’s very short term but I am totally blanking on the name). Funds are usually given out at the next funding cycle unless there’s a claim made for immediate funding, and from there it’s just folded into the budget and assigned however that municipality / organization handles budget allocation.
TL;DR: Biden admin can’t have the funds directly except in emergencies, that would be constitutional overstep. It just goes back to the government at the next budget assignment. Which you can draw your own conclusions about where Congress will put that additional money.
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.
