USPS Loses Billions for the 9th Consecutive Year
18th November 2015
Like many government agencies, the U.S. Postal Service is an expert at hemorrhaging money. Just last week, the USPS reported a $5.1 billion loss for fiscal year 2015, marking its 9th consecutive year of multi-billion dollar losses. Since 2007, the USPS has accumulated $56.8 billion in losses.
This is why people have misgivings about putting the government in charge of health care — which the history of the NHS in Britain and Obamacare in the U.S. fully support.
Although the Postal Service claims it does not receive taxpayer support, the fact is that USPS enjoys a variety of special privileges as a government agency. The USPS maintains a government protected monopoly over delivery to mailboxes. This gives the USPS a roughly $14.9 billion advantage in recent years over private competitors.
Additionally, the USPS is exempt from virtually all taxes and fees that its competitors must pay – it does not have to pay: state and local property and real estate taxes; sales and use taxes; state franchise taxes; license fees; title fees; and vehicle registration fees. The USPS is not even accountable for parking tickets and tolls. In all, these exemptions give the USPS an over $2 billion dollar edge over the free market.
Oh, a government agency lie to us? However did that happen?