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by lawfulcactus
2256 days ago
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> Laws that bar any other shipping service from delivering mail and packages directly to residential and business mailboxes. Shapiro estimates that this gives the Post Office a $14 billion annual boost, more than three times what the Postal Regulatory Commission estimates it to be. > Tax breaks. The Post Office is exempt from state and local property and real estate taxes, along with other burdens like tolls, vehicle registration fees, and parking tickets. These exemptions save the USPS $2.18 billion per year. > Cheap borrowing. [...] It currently borrows the legal limit of $15.2 billion at a rate of 1.2%. Without this access, it would be paying somewhere between $415 million and $490 million per year more in interest. > Finally, Shapiro points out that the USPS pays its workers salaries and benefits far above the rates paid to similar workers in the private sector. From the article; it's not a /literal/ taxpayer-funded subsidy. Also, since that link is paywalled: https://web.archive.org/web/20200411145708/https://fortune.c... |
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