354
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 06 Jun 2024
354 points (98.6% liked)
News
23275 readers
3486 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
Your post shows how little you understand the USPS.
A) It wasn't the scaling down of the USPS that is what Trump did. He appointed the head of the org, Louis DeJoy, who did a lot of specific acts that slowed down how mail was delivered. He got rid of over 700 high-speed auto-sort machines that were perfectly fine but out of date and then didn't order new ones. He cut overtime and lowered the opening hours of offices.
B) The only reason the USPS is having financial issues is because the Republicans passed a law (which many Dems also voted for because they are morons and the plan sounded good at first read) that said all pensions had to be pre-funded through death. That means for every person who works there and has a pension, let's say being paid $500/mo for the rest of their life, will require the USPS to have a fully funded account in the amount of $500/mo x 12 mo x life expectancy. They can't do like every other company on Earth with a pension and fund it over time either through profits or by an interest bearing account. That crippled the USPS because they had to divert all their profits. Before that they were profitable, but this stifled all growth.
C) Even with that, they finally came back and made $56 billion in PROFIT in 2022. Yes, in 2023 they had a loss of $6 billion, but the profit from 2022 helped them to not scale back.
D) USPS doesn't make most of their money on first class mail. The majority of their income is from package delivery ($32.4 billion) and from mailing advertisements ($15.9 billion) vs first class mail revenue of $24.5 billion.
https://about.usps.com/newsroom/national-releases/2023/1114-usps-reports-fiscal-year-2023-results.htm
The reason that they needed to be pre-funded is because the USPS was shrinking and is expected to continue to do so.
What happens with a private company that's shrinking or going under is that people who have a pension plan risk winding up without their pension.
With the USPS, it's a quasi-governmental agency. Strictly-speaking, the government isn't on the hook for the pensions...but it's a pretty good bet that if the USPS can't cover pensions, then USPS workers are going to be asking the government to cover it down the road. This ensures that it's the USPS that pays for it, rather than it running up a huge debt, filing for bankruptcy, and then dumping it on the taxpayer.
The bill required all pensions to be prefunded for 50 years. Even pensions for people who were at retirement age and couldn't possibly last 50 years, and people who have just started and might not stay long enough to qualify for a pension also needed to have a prefunded 50 year pension. That's ridiculous. No other government organization has this requirement, and no other non-government organization has this requirement. So why would the quasi-governmental need one?
Also, USPS was profitable in 2006. While maybe not growing, they weren't going under. This was purely a political move to turn a profitable USPS and make it crash so that private companies like FedEx and UPS could take over the role to make money. Bush Jr used scare tactics to get liberals to vote for this, like the arguments you are using. Thankfully, Biden repealed this law in 2022.