King George's Stamp Tax

George W. Bush's War Stamp Tax. According to US Postal Service insiders, the Bush administration, which has prided itself on tax cuts, has imposed a stealth war tax on the American people. In January, the Postal Rate Commission approved a raise in first class postage two cents to 39 cents. The commission has now indicated it wants to raise the price of a first class stamp by three cents to 42 cents next year. The reason for the Bush stamp tax is that when the Bush administration took power in 2001, the Postal Service Fund, a special account established within the Treasury Department, had a substantial surplus. However, in order to pay for its Iraq war adventure, the Bush administration raided the Postal Service Fund and created a deficit. The two successive rate increases have been necessary in order to replenish the fund, according to Postal Service sources. In addition to the Postal Service Fund, the misappropriation of money for the war has also adversely affected the Postal Employees' Compensation Fund, the solvency for which is guaranteed by the Postal Service Fund.