Joined: 19 Dec 2017
|Posted: Fri Apr 06, 2018 8:17 am Post subject: Trump claims the post office is losing billions because of A
|Trump claims Amazon is ripping off the Post Office. Here’s what’s actually going on. Trump claims Amazon is ripping off the Post Office. Here’s what’s actually going on.
1 Hour Ago | 05:24
President Donald Trump is clearly not a fan of Amazon. He attacked the company via Twitter five times in the last week.
One of his main contentions is that Amazon is ripping off the U.S. Postal Service, but it's not clear whether it is getting the short end of the stick from the Jeff Bezos-led retailing juggernaut.
In fact, Amazon may be saving the post office from financial ruin.
On April 3, Trump said, "the post office is losing billions of dollars," at U.S. taxpayers' expense.
It's true that the post office is losing money. It reported a $2.7 billion net loss in 2017.
But the post office is not funded by U.S. tax dollars.
And when you look at the revenue breakdown, you can see that shipping and packages is actually one of the few categories that brought in more money than the previous year. While overall revenue fell $1.8 billion, shipping and packages saw a $2.1 billion increase in revenue. Meanwhile, first-class mail revenue was down around $1.8 billion.