The U.S. Postal Service (USPS) is raising prices on stamps … again.
Beginning on January 26, the cost of mailing a first class letter will climb by a penny (from 46 to 47 cents) – although the agency could get approval for a three-cent hike to 49 cents. It may also win approval of a one-cent hike in the price of mailing a post card.
Assuming postal bureaucrats get their way – we’re talking about a $2 billion tax hike on the American people.
The agency – which has lost $21 billion over the last two fiscal years – has been bleeding cash despite recent rate hikes and massive bailouts from the very taxpayers they’re ripping off.
Meanwhile FedEx and UPS somehow continue to make profits …
It’s time for the insanity to stop. The USPS should be privatized … tomorrow. In fact it should have been privatized many, many, many yesterdays ago.
Instead, Congress has continued to dole out massive retirement packages – while banning layoffs at the grossly mismanaged agency. As a result, more than 80 percent of the Post Office’s expenses are devoted to labor costs. By comparison, only 32 percent of FedEx’s expenses are labor-related.
Just another well-oiled government machine …
Oh well … it’s “only a penny,” right? You can afford it, right?
Sheesh … it’s enough to make you, well, “go postal.”