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Author: telegraph Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 61100  
Subject: Re: Oopss....error...error Date: 10/29/2009 2:17 PM
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Let's set the record straight once again.

If, as you claim, the post office is a 'private company', then why are tax payers on the hook for?

http://www.highbeam.com/doc/1P2-1246353.html

"Taxpayers subsidize postal retirement and annuitant health benefit costs,"?

"as well as reduced rates for a variety of mailers, as mandated by Congress."

Congress gets a free ride on the back of postal customers, you and me...and....

"Moreover, the Postal Service is exempt from federal taxation and borrows from the Treasury to finance its capital program at lower rates than private corporations or even other government-sponsored enterprises must pay. "

Compete? Hardly....they are sucking up our money, not paying a dime in taxes (where UPS and Fed Ex and others get socked with real estate taxes, income taxes, corporate taxes, contributions to pension plans and 401Ks, health benefits......

UPS and Fed Ex have to borrow at normal rates,where the Post Office is subsidized at super low borrowing rates.

and the post office is still going bust,and tax payers will be on the hook for tens of billions to keep it on life support.......

and here comes the bailout request....(and don't forget that congress has thrown billions at the PO to buy 'greenie vehicles'.....)..

http://wyblog.us/blog/dems-to-bailout-post-office.html

"President Obama likes to cite the Postal Service as a positive example of a self-sustaining government entity that successfully competes with the private sector. He said "UPS and Fed Ex are doing just fine." My buddy Nadz also is fond of the Postal Service model saying it's his ideal example of how a public-option health insurance system could be set up.

Both of them swear the Post Office receives no taxpayer subsidies. Unfortunately that statement is no longer operative. Four Billion of your tax dollars are headed to bail out their pension plan. (h/t Memeorandum)

The Democrats in Congress say this is only a "temporary" measure to tide the Postal Service over while they're short on cash. Uh huh. No government program is ever "temporary". This particular bailout doesn't come due until 2017, at which time I'm sure it'll be kicked down the road again, having been only the beginning of an annual taxpayer lifeline to the Post Office. "

t.
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