The End of the Phony Express, or: The USPS Goes Postal On Our Economy by Bill Walker

The End of the Phony Express, or: The USPS Goes Postal On Our Economy by Bill Walker:

The USPS employs a larger horde than Genghis Khan: 656,000 union members driving 260,000 vehicles. It is the second-largest employer in the United States after Wal-Mart.

It has a government-granted monopoly on first class mail. In 2007 an FTC report noted that the service does not pay taxes, including property tax on its 38,000 facilities; does not pay vehicle registration fees, and can borrow at subsidized interest rates from the U.S. Treasury.

And they do borrow… which is how they get away with claiming that they are "not subsidized". They don’t get subsidies (except in some years, when they do), they just get loans… and more loans… and more loans.

Maybe they should join up with Bank of America or Goldman Sachs and add subprime mortgages to their services at the stamp window..................
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