Wednesday, December 7, 2011
Between 2008 And 2010, 30 Big Corporations Spent More Lobbying Washington Than They Paid In Income Taxes
The group’s research finds that thirty big corporations actually spent more money lobbying the federal government between 2008 and 2010 than they spent in taxes. For example, General Electric — one of the top 10 most profitable companies in the world — got a net tax rebate of $4.7 billion during this period.
Meanwhile, it spent $84 million lobbying the federal government.
Think Progress: Between 2008 And 2010, 30 Big Corporations Spent More Lobbying Washington Than They Paid In Income Taxes
Postal Service Cuts Could !nterfere With Elections, Delay Vote By Mail Ballots
With Congress debating plans to shut down post offices and possibly eliminate Saturday mail delivery, some election officials are worried that bringing the U.S. Postal Service out of the red could harm election procedures — perhaps even in time for the November 2012 presidential election.
In November the Postal Service announced it lost $5.1 billion in fiscal 2011, not including the mandated $5.5 billion owed to the federal government to prefund retiree health benefit payments. For the service to return to profitability, it must cut $20 billion by 2015.
Senate legislation would protect Saturday service for the next two years, but a House bill would permit a reduction to five-day-per-week mail delivery six months after enactment. The Postal Service has said it intends to cut Saturday service unless Congress requires it to continue.
Steve Monteith, the Postal Service’s manager of transaction correspondence, said taking away Saturday delivery or shutting post office doors could force election officials to send ballots out a day earlier to make sure they arrive on time.
California Republican Rep. Darrell Issa, who chairs the House Oversight and Government Reform Committee, co-sponsored the House bill. The service’s financial losses, he said, put elections at risk.
“Fundamental reforms are needed to protect the financial viability of the United States Postal Service, including its services that are integral to voting,” Issa said.
Full Article: The Daily Caller.
Who Killed the Postal Service?
The Postal Service just announced roughly $3 billion in service cuts that will slow down the delivery of first-class mail for the first time in 40 years. Starting in April, it plans to shutter more than half of its 461 mail processing centers, stretching out the time it will take to ship everything from Netflix DVDs to magazines. One-day delivery of stamped envelopes will all but certainly become a thing of the past.
The announcement is just the latest sign of a sad and increasingly dire fact: the Postal Service is in shambles. This past fiscal year, it lost a mere $5.1 billion. In 2012, it's facing a record $14.1 billion shortfall and possible bankruptcy. In order to turn a profit, Postmaster General Patrick Donahoe says the agency needs to cut $20 billion from its annual budget by 2015. That's almost a third of its yearly costs.
How did it come to this?
The culprits include the Internet, labor expenses, and, as with pretty much every problem our country faces now, Congress.