They’ll just…raise prices to offset the judgment.
we must never take any action against companies they’ll just raise prices or leave the country or fire everyone or or or or or
If they really have you so much by the balls then they’re a threat and need to be taken down
Keep going, I’m listening.
All my comment was saying is that this is a toothless judgment.
it’s better than nothing, and Coke has competitors that aren’t getting fined, so their hands are somewhat tied
Getting 16 billion in back taxes isn’t toothless… It’s making them pay their fair share…
Toothless would be if there was no way to force them to pay.
By less than the profit that was taxed, because elasticity exists.
And cut wages at the bottom end of the employment ladder, gotta safeguard that C-suite bonus
The CFO, who originally manufactured the tax dodge and got a bonus for doing so, will now have to work out a “restructuring” strategy (IE, cut wages and layoffs) to cover for the increased tax burden… Which will earn them another bonus.
Edit: I don’t know that any of this is true
And lots of people will stop drinking it because of that, and they will be healthier thanks to it.
Lol doubt.
I know quite a few people who have serious Coke addictions. They will simply refuse to drink any other brand and they go through Trumpian levels of the stuff daily. I don’t know what it is about this particular brand. I’ve never met an RC head, but Coke heads are a dime a dozen, unlike the ten bucks a dozen their drug of choice charges.
lived with a woman who drank a 12 pack a day. IDK how she has teeth
Uff that used to be me. I went cold turkey for about 4 month of just drinking water. It then made me realize how coke isn’t even good.
I used to be like that. Drank 4 litres a day. Thankfully I got sick of feeling like shit all the time because of it and switched to just drinking water.
I know quite a few people who have serious Coke addictions.
That’s a great way to start a paragraph
Mountain Dew. Has more caffeine than coffee.
Does it? Mountain dew has like 50-60mg of caffeine per 12 oz can, where an average 8oz cup of coffee can have somewhere in the 75-100mg range. A standard double shot espresso drink will have anywhere from 75-150mg.
Also, I don’t think the caffeine content is the thing to worry about at any rate, I’m more concerned with the 46g of sugar per can.
Fwiw… Mt Dew Zero has 68mg/12oz. I think regular and diet are 55ish.
Touche
I never got into that in my teen years because we had Jolt Cola - branded as “all the sugar and twice the caffeine”
Edit: Now I wonder if people were going into bars back then and ordering a Jack and Jolt, thereby far preceding the Red Bull and vodka.
I’ve known pepsi addicts.
It would be nice to have nice things associated with American infrastructure, again.
Fun fact, these back taxes are higher than the share value of the entire company (~$11bn market cap).
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 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.
Shorting their stock in 3, 2, …
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
The middle man is taking you for a ride there. Soda is not that expensive.
Are you, by chance, a Sherpa stationed half way up Mt Everest?
Where you work is the problem lol, not coke in this instance. A can is like 50 cents
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, 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.
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.
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
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.
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.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
I’m so sick of companies taking every opportunity to be egregiously shitty in the name of profit.
I’m equally sick of pretty much every sports stadium, event venue, theme park, cruise ship, etc. offering these companies’ beverages and all the consumers in the world that really don’t withhold from supporting these companies, despite their obvious shittiness.
These are the incentives of the economic system. Are you up for radical change? We can’t rely on companies choosing to be moral and nice.
We need workers to own the economy.
I understand the value here, but I prefer to keep control over my business decisions. If employees are interested in having more influence, they should consider starting their own ventures. I believe maintaining direct control allows me to steer my business according to my vision and goals.
understand the value here. However, I prefer to keep control over my country’s decisions. If citizens are interested in having more influence, they should consider founding their own country. I believe maintaining direct control allows me to steer my country according to my vision and goals.
Democracy has been tried and failed, just recently France tried it again and reverted to Empire. If you don’t like where you are a subject, simply conquer some other territory. Let’s just reform monarchy.
Yes being a petite dictator is nice for you and nobody disputes that. Your ownership and profit comes at their expense.
Since they are giving up all of that control to you. You must be giving them most of the profits then right? Right? That would only be fair.
Or do you think you deserve more than them somehow because you had money to start a business and they only had skills and knowledge?
I started this business, taught the skills, and make the financial decisions based on what I think is best for the company. I value their input, but the final decisions are up to me since my name is on the line.
Again, if that doesn’t seem fair, maybe consider starting your own business.
So you do think you deserve more then lol
Making financial decisions isn’t a hard job dude. Every grown person is expected to do that in life.Your big benefit was that you had the capital to start the business. That’s why it’s called capitalism. The people with the money like you are like modern day lords. Only living off the privilege of having money when others don’t.
I would gladly start my business if I already had enough capital for it. But I need healthcare for my family and for some reason that is tied to my job, making it an insurmountable expense. Maybe that reason is to keep me working for oblivious people like you, instead of myself.
You don’t know how I started my business. I had only $300-$400 in capital while collecting unemployment, so don’t assume I had a lot of money. Making financial decisions isn’t easy when you’re broke.
As for free healthcare, you don’t need to change the entire economic system. Advocate for better policies and vote for leaders who will work to make it happen.
Yes you’re describing how capitalism works. Maybe you feel that you took a big risk and it paid off.
The risk you took was the risk of losing your capital.
There are many people out there who would not even notice that same amount of capital missing from their accounts.
That’s the thing with systemic problems. It doesn’t mean everyone participating in the system is causing those problems, it means the system results in those outcomes. Systemic racism doesn’t mean everyone with authority is racist, systemic inequality under capitalism doesn’t mean every business owner has a private jet.
Maybe you think you’re “a good capitalist” just like maybe you think there are good cops. That doesn’t mean capitalism and policing aren’t systemically problematic.
We need to destroy the system and that means getting rid of people like you too, whether or not you think you’re justified in skimming wealth from your employees because you were poor once.
You know there’s a range of options between unfettered capitalism and unfettered communism right?
Slap communism on a population that’s spent the past few generations training itself to reward cunts and you get the USSR on steroids.
We need workers to own the economy
We need an economic system that rewards acting in the common good. This system, but with the workers in charge is still this system which rewards all the bad stuff of modern capitalism
A single owner-dictator is less likely to make decisions for the common good than all employees owning their workplaces together.
Socialism, however it’s implemented (besides state capitalism a la China, which also isn’t socialist), necessarily moves us closer to what you’re saying.
Coca-Cola is an evil company, so I’m not surprised. All they had to do was make cola, and be cool. Instead they operated like a criminal cartel, murdered labor activists in third world countries, exploited workers, bribed politicians, and evaded taxes. They should crumble under the weight of their crimes. If the government bails them out then we should all protest heavily.
I think it would be fair to destroy product you see in stores. something to weaken plastic on the outside of bottles, or shaking them. things that make product unsellable, or make it make a mess.
these companies are beyond evil, clearly simple “im not buying this” doesn’t work; retailers must be punished for stocking this shit.
If it’s on retail shelves, Coke already has their money. You have to aim higher.
they have their money once. will they have it again? and again? and after this KEEPS happening?
You gotta corrupt the supply chain then. Shaking bottles in a store isn’t gonna do shit.
see, reducing demand at a retailer level is a lot easier to democratize and give kids to do so they feel empowered. plus it makes them think about OTHER products that are associated with awful shit. maybe, someday, I could even go grocery shopping without having to google every single god damn thing I put in my cart!
Some retail stores now operate on a model where they essentially rent shelf space to wholesalers, who are responsible for stocking the shelves and keep all the money from sales of their product.
Why would making a mess at a random 7-11 hurt Coca Cola in any way? What is the logic here?
it would become a liability to stock that shit.
And small corner stores lose money?
If you want to do something, go slash the tires of Coca Cola execs. Or put some sugar in the tank of their private jet
Your motivation is honorable, but this plan would only impact innocent retail employees and would not hurt Coca-Cola at all. I like your initiative, though.
their hours will be spent cleaning rather than doing the shit they originally needed to do. stores will need to hire more workers (and maybe security. but still) to keep the same standard. is wiping up cola really worse than collecting carts at 40c+?
Just an fyi…the coke product is just one of several hundred brands Coca-Cola owns. Sure your plan could work, but to be more effective, one should target more of their brands.
https://en.wikipedia.org/wiki/List_of_Coca-Cola_brands?wprov=sfla1
Huh, that probably explains why Minute Maid juices have so much added sugar.
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 bet they won’t pay shit and we’ll just stop talking about it.
If a government or a corporation has 16 billion dollars, is completely inconsequential to me. I don’t see anything of either
Did you drive anywhere on a road today? If so you’ve already been given more from public spending than you will ever get from Coca Cola.
Government money does a lot of really important things. If you want those things to better reflect your priorities then you need to get more involved in the process (especially at the municipal level, where you will see the most direct impact from government spending).
No doubt that it does. However, pretending like the world would be a perfect place if those darn corporations would just pay all their taxes is foolish.
No one did. You just invented that in your head so you could get mad about it.
Making giant corporations pay their taxes is one tiny piece of a very large puzzle. But you need every piece to finish a puzzle.
That is a valid take. It also a sign that the current system isn’t working.
The people should be in control of the government and the government should spend money on its people.
Unfortunately, that isn’t the case right now. We need to work together to fix this.
Jup. Governments are way too large for their own good, gets involved in way too many private matters and is insanely expensive. We need to drastically downsize the entire thing and have it focussed on their core job again.
I would disagree, I think governments could stand to get bigger. Tax the wealthy more to close the income gap and get single payer healthcare, so our healthcare isn’t tied to our jobs.
Said the defeatist
You are part of why Elon Musk et al can exist.
You do not know your enemy when you see or hear them.
Elon Musk is not my enemy. The fact that billionaires got a massive pile of money doesn’ylt affect me in the slightest.
You know what does affect me? Corrupt government officials that embezzle public funds, spend it on stupid projects that only enrich their friends and families. That affects me.
You really think that giving the government access to even more money will help you? Hell no. It’s going to end up in the same hands as now, just more of it.
Taxes are a borderline infinite money source, and if you don’t have to worry about s source drying up you start wasting it, which is exactly what’s happening in many countries now.
And how many arrests?
You’re not going to believe this, but it turns out that no one knew this was happening - they’re all completely innocent! As long as they promise not to do anything immoral ever again, they’re fine. /s
Thank you friend
