Forever Stamps Tell Us Much

Financial Sense ^ | Fri, 31 Dec 2010 | by Peter D Schiff

[RipSawyer]

“Over the past fifty years, the USPS has raised the rates on first class postage 20 times. During that time the stamp prices have gone up more than 1,100%.”
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During the same fifty years the government claims that inflation is only 739%, interesting to say the least.

[DeaconBenjamin]

The Germans did experiment with recycling:

[DeaconBenjamin]

Not just postage stamps:

A 1000 Mark banknote, over-stamped in red with "Eine Milliarde Mark" long scale (1,000,000,000 mark), issued in Germany during the hyperinflation of 1923

[GoodDay]

Just sell the damn post office to ups and fedex and forget about it.

I agree. That's definitely the way to go.

[Huck]

bfl

[Yaelle]

I sold all my gold and bought this tub.

[DeaconBenjamin]

Looks like you have inflation licked.

[Yaelle]

LOL!

[Pelham]

“Over the past fifty years, the USPS has raised the rates on first class postage 20 times. During that time the stamp prices have gone up more than 1,100%”

Schiff deserves a poor grade on his knowledge of Post Office history. Either that or he’s trying to mislead.

50 years ago the Post Office received tax subsidies and first class rates didn’t reflect the actual cost of delivery.

This ended with Nixon’s Postal Reorganization Act of 1970. Tax subsidies were gradually ended and under the Postal Service postage now reflects the actual cost of mailing.