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To: C. Edmund Wright
No, you don't remember me at all, but you do reveal your enormous reservoir of ignorance of the Postal Service. It's constitutionally identified as a federal function and it is paid for with postage and fees, not your taxes!

Employee retirements are paid for from employee salaries and payments made by USPS directly to a retirement system, plus a major part of their retirements are in the form of Thrift Savings Accounts which are, otherwise, identical to 401(k) accounts used widely in the private sector.

You are the typical mail delivery customer ~ pays nothing whatsoever for the service yets complains the employees are ripping him off.

BTW, you wouldn't enjoy my economic system ~ spartan ~ no federal personal income tax at all but everyone gets tapped on their annual profit ~ and DOD goes from a consumer agency to a producer agency by collecting tribute from foreign nations and international merchants who we protect. No department of education, no labor department, no commerce department (as it is now understood) and if you plant fence row to fence row USDA leaves you alone ~

191 posted on 08/31/2012 8:24:14 AM PDT by muawiyah
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To: muawiyah
Oh right, the USPS is given a monopoly, prime real estate locations, and billions each year to shore up their operating deficit: SEE: "President Obama's proposed 2012 budget doesn't say anything about raising stamp prices, ending Saturday mail deliveries or closing post offices, but it tries to remedy the U.S. Postal Service's perilous financial condition by recommending about $11 billion in relief. With mail volume and revenue plummeting, the Postal Service is on course to run a $7 billion deficit in the fiscal year that ends in September and, in the process, to run out of cash as it exhausts its line of credit with the U.S. Treasury. The losses stem in part from hefty personnel costs not borne by other federal agencies. One is a requirement, imposed by a 2006 law, that it set aside money each year to cover the costs of future health benefits for its retired workers. In the Obama administration's first substantive attempt to address the Postal Service's fiscal woes, the budget would allow the agency to pay $4 billion less toward future retiree health benefits than otherwise required. The mail agency would have to pay about $1.5 billion of those costs in fiscal 2012 and make up the difference in later years. Highlights? Postal service runs a deficit for retirement costs, and that deficit is paid by the tax payer. Its a shell game, a government agency, with a given monopoly, and they still lose tons of money.
195 posted on 08/31/2012 9:36:56 AM PDT by C. Edmund Wright ("You Might Be a Liberal" (YMBAL) Coming out Sept 1 by C. Edmund Wright)
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