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Thread: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108 mill

  1. #231
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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by MrVicchio View Post
    Privatizing is less costly ergo less taxes ergo more money and jobs for the middle class to fill.
    No, privatizing is far more costly to the user which is why your ilk generally calls them "moochers" or "takers" as Mittens said.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by MrVicchio View Post
    Thats the worst example. usps should be disbanded
    No. It shouldn't. And it is a fantastic example.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by MrVicchio View Post
    It is. its also a money sink that is ineffective. I avoid the usps if at all possible.
    It's not a money sink at all. It is profitable when the GOP isn't trying to destroy it. It doesn't run off one cent of taxes. It runs off stamp sales. It's in the red financially because the GOP pushed through mandatory retirement funding where they had to fund 75 years of retirement in like... a handful of years. This starts them off billions in the hole every year before the first letter is delivered. THAT is why they are in the red. Without that ludicrous requirement... they are waaaayyyyy in the black.

    Yet another example of how republicans say "gubmint don't work" and then get in charge and run it with the purpose to make sure it doesn't.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by poweRob View Post
    It's not a money sink at all. It is profitable when the GOP isn't trying to destroy it. It doesn't run off one cent of taxes. It runs off stamp sales. It's in the red financially because the GOP pushed through mandatory retirement funding where they had to fund 75 years of retirement in like... a handful of years. This starts them off billions in the hole every year before the first letter is delivered. THAT is why they are in the red. Without that ludicrous requirement... they are waaaayyyyy in the black.

    Yet another example of how republicans say "gubmint don't work" and then get in charge and run it with the purpose to make sure it doesn't.


    they also ignore how usps is the last mile vendor for USPS and FEDEX in rural areas.

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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by SlevinKelevra View Post
    they also ignore how usps is the last mile vendor for USPS and FEDEX in rural areas.
    First and last mile they like to say. They also do pickups for UPS and FEDEX quite often.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by poweRob View Post
    First and last mile they like to say. They also do pickups for UPS and FEDEX quite often.
    in a sick funny way, it would be great if USPS went away.

    imagine rural GOP voters faces come December when the "market" rate to send those stupid family newsletter christmas cards to eachother is revealed to be $13.99

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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by poweRob View Post
    It's not a money sink at all. It is profitable when the GOP isn't trying to destroy it. It doesn't run off one cent of taxes. It runs off stamp sales. It's in the red financially because the GOP pushed through mandatory retirement funding where they had to fund 75 years of retirement in like... a handful of years. This starts them off billions in the hole every year before the first letter is delivered. THAT is why they are in the red. Without that ludicrous requirement... they are waaaayyyyy in the black.

    Yet another example of how republicans say "gubmint don't work" and then get in charge and run it with the purpose to make sure it doesn't.
    Absurd claims.

    U.S. GAO - U.S. Postal Service: Action Needed to Address Unfunded Benefit Liabilities

    GAO has previously reported that without congressional action to address USPS's benefit funding issues and better align its costs and revenues, USPS faces continuing low liquidity levels, insufficient revenues to make annual prefunding payments, and increasing liabilities. Deferring funding could increase costs for future postal ratepayers and increase the possibility that USPS may not be able to pay for these costs. GAO has previously identified the following key considerations related to USPS's funding of its benefits liabilities:

    • Reasons for prefunding include fairly allocating costs between current and future ratepayers, protecting USPS's future viability, providing greater benefit security to employees and retirees, and protecting potential third parties.

    • Prefunding decisions involve trade-offs between USPS's current financial condition and its long-term prospects.

    • Congress needs to modify USPS's retiree health prefunding payments in a fiscally responsible manner, and USPS should prefund any unfunded retiree- health benefits liability to the maximum extent that its finances permit.

    • Lowering the retiree health funding target from 100 to 80 percent would have the effect of carrying a permanent unfunded liability.

    • USPS liabilities are estimated using assumptions for the federal workforce as a whole, rather than USPS-specific assumptions. GAO supports the use of the most accurate actuarial assumptions available, and if USPS-specific assumptions are used, that they be recommended by an independent body.


    Why GAO Did This Study

    USPS continues to be in a serious financial crisis, with insufficient revenue to cover its expenses and financial obligations as the volume of USPS's most profitable product, First-Class Mail, continues to decline. At the end of fiscal year 2013, USPS had about $100 billion in unfunded liabilities: $85 billion in unfunded liabilities for benefits, including retiree- health, pension, and workers' compensation liabilities, and $15 billion in outstanding debt to the U.S. Treasury—the statutory limit. These unfunded liabilities are a large and growing financial burden, increasing from 83 percent of USPS revenues in fiscal year 2007 to 148 percent of revenues in fiscal year 2013. Unfunded benefit liabilities represent estimated future benefit payments to current and retired employees for which USPS has not set aside sufficient money to pay. This testimony discusses (1) the extent to which USPS's benefit liabilities are unfunded and (2) the potential impacts of USPS's unfunded benefit liabilities absent action by Congress to address them and key policy issues for consideration. This testimony is based primarily on GAO's work over the past 4 years and updated USPS financial information for fiscal year 2013.

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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by SlevinKelevra View Post
    in a sick funny way, it would be great if USPS went away.

    imagine rural GOP voters faces come December when the "market" rate to send those stupid family newsletter christmas cards to eachother is revealed to be $13.99
    It would definitely kill rural and small town businesses.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

  9. #239
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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by ocean515 View Post
    Absurd claims.

    U.S. GAO - U.S. Postal Service: Action Needed to Address Unfunded Benefit Liabilities

    GAO has previously reported that without congressional action to address USPS's benefit funding issues and better align its costs and revenues, USPS faces continuing low liquidity levels, insufficient revenues to make annual prefunding payments, and increasing liabilities. Deferring funding could increase costs for future postal ratepayers and increase the possibility that USPS may not be able to pay for these costs. GAO has previously identified the following key considerations related to USPS's funding of its benefits liabilities:

    • Reasons for prefunding include fairly allocating costs between current and future ratepayers, protecting USPS's future viability, providing greater benefit security to employees and retirees, and protecting potential third parties.

    • Prefunding decisions involve trade-offs between USPS's current financial condition and its long-term prospects.

    • Congress needs to modify USPS's retiree health prefunding payments in a fiscally responsible manner, and USPS should prefund any unfunded retiree- health benefits liability to the maximum extent that its finances permit.

    • Lowering the retiree health funding target from 100 to 80 percent would have the effect of carrying a permanent unfunded liability.

    • USPS liabilities are estimated using assumptions for the federal workforce as a whole, rather than USPS-specific assumptions. GAO supports the use of the most accurate actuarial assumptions available, and if USPS-specific assumptions are used, that they be recommended by an independent body.


    Why GAO Did This Study

    USPS continues to be in a serious financial crisis, with insufficient revenue to cover its expenses and financial obligations as the volume of USPS's most profitable product, First-Class Mail, continues to decline. At the end of fiscal year 2013, USPS had about $100 billion in unfunded liabilities: $85 billion in unfunded liabilities for benefits, including retiree- health, pension, and workers' compensation liabilities, and $15 billion in outstanding debt to the U.S. Treasury—the statutory limit. These unfunded liabilities are a large and growing financial burden, increasing from 83 percent of USPS revenues in fiscal year 2007 to 148 percent of revenues in fiscal year 2013. Unfunded benefit liabilities represent estimated future benefit payments to current and retired employees for which USPS has not set aside sufficient money to pay. This testimony discusses (1) the extent to which USPS's benefit liabilities are unfunded and (2) the potential impacts of USPS's unfunded benefit liabilities absent action by Congress to address them and key policy issues for consideration. This testimony is based primarily on GAO's work over the past 4 years and updated USPS financial information for fiscal year 2013.
    Right there in your opening paragraph:

    GAO has previously reported that without congressional action to address USPS's benefit funding issues and better align its costs and revenues, USPS faces continuing low liquidity levels, insufficient revenues to make annual prefunding payments, and increasing liabilities

    That is exactly what I just addressed. The retirement prefunding puts them in the red before the year starts. My claims are accurate and you just helped prove it.

    1. The USPS is not technically “broke” — yet.

    Operationally speaking, the USPS nets profits every year. The financial problem it faces now comes from a 2006 Congressional mandate that requires the agency to “pre-pay” into a fund that covers health care costs for future retired employees. Under the mandate, the USPS is required to make an annual $5.5 billion payment over ten years, through 2016. These “prepayments” are largely responsible for the USPS’s financial losses over the past four years and the threat of shutdown that looms ahead – take the retirement fund out of the equation, and the postal service would have actually netted $1 billion in profits over this period.

    linkypoo...
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

  10. #240
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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by poweRob View Post
    Right there in your opening paragraph:

    GAO has previously reported that without congressional action to address USPS's benefit funding issues and better align its costs and revenues, USPS faces continuing low liquidity levels, insufficient revenues to make annual prefunding payments, and increasing liabilities

    That is exactly what I just addressed. The retirement prefunding puts them in the red before the year starts. My claims are accurate and you just helped prove it.

    1. The USPS is not technically “broke” — yet.

    Operationally speaking, the USPS nets profits every year. The financial problem it faces now comes from a 2006 Congressional mandate that requires the agency to “pre-pay” into a fund that covers health care costs for future retired employees. Under the mandate, the USPS is required to make an annual $5.5 billion payment over ten years, through 2016. These “prepayments” are largely responsible for the USPS’s financial losses over the past four years and the threat of shutdown that looms ahead – take the retirement fund out of the equation, and the postal service would have actually netted $1 billion in profits over this period.

    linkypoo...
    I think I'll take the full explanation of facts regarding the USPS over PBS.

    You know, these reasons I posted from their report:

    Reasons for prefunding include fairly allocating costs between current and future ratepayers, protecting USPS's future viability, providing greater benefit security to employees and retirees, and protecting potential third parties.

    • Prefunding decisions involve trade-offs between USPS's current financial condition and its long-term prospects.

    • Congress needs to modify USPS's retiree health prefunding payments in a fiscally responsible manner, and USPS should prefund any unfunded retiree- health benefits liability to the maximum extent that its finances permit.

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