Post Office Profit
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Reports by the U.S. Postal Service of producing a “profit” of $1.26 billion in 1997 (Dec. 27) need to be taken with several grains of salt.
The USPS is a government agency, not a “for real” business. It enjoys billions of dollars of taxpayer subsidies. Not only does it receive appropriate tax dollars for operations, but it is exempt from all sorts of taxes that real businesses pay.
If the USPS were a true public service, it should be planning to use its $1.26-billion cash surplus to reduce postage rates after paying off its long-term debt. But no, it’s about to use its monopoly power to raise postage rates again.
CARL OLSON
Woodland Hills
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