Author Topic: "Economic stimulus"  (Read 15401 times)

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Offline cruizer

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"Economic stimulus"
« on: Feb 4, 2009, 11:31PM »
http://www.pm.gov.au/media/Release/2009/media_release_0778.cfm

So whos getting it if it goes through? Does anyone think it'll help?

I still can't work out if I'll be getting it  ::)

Offline Febrile

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Re: "Economic stimulus"
« Reply #1 on: Feb 5, 2009, 12:15AM »
I'm getting $950, and I'm going to be a fuckin patriot and spend the lot of it.  I'm saving for a house, but I wouldn't be getting this money if the economy wasn't in the shitter, so I'll do my darndest to help keep it chugging along.

Having said that we should spend it over the course of a year or so otherwise we'll see some serious short term inflation!
« Last Edit: Feb 5, 2009, 12:18AM by Narxysus »
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Offline wombat

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Re: "Economic stimulus"
« Reply #2 on: Feb 5, 2009, 06:40AM »
I think I get it. I'll know I get it when the money's in my bank account. It's not going to be in before Easter, because it won't pass through the senate tomorrow.

If you earned less than 80,000 from working last financial year, and put in a tax return, you should receive the payment of $950.

As with the last one, most of it will go straight to Harvey Norman, Fantastic Furniture, and various purveyors of alcohol, gambling and big TV's.
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Offline Colby

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Re: "Economic stimulus"
« Reply #3 on: Feb 5, 2009, 08:12AM »
As great as it is for me, I think its a stupid solution.  Budget changes from $5 billion surplus to $22 billion deficit, with deficit expected the next few years also.  We'll end up paying for it in taxes in a few years when things arent so shakey.

For me the timing is rather unfortunate also, as i'm going overseas for 6 weeks to canada (in june), so this effectively will bring no benefit from my $950 or my wifes.  It will boost Canadian economy  :-\  So lets not say i'm using it for that.
I personally dont need $950 at the moment, got all the flat screens, appliences and furnature we need.  If anything, it will go towards buying another house, not really helping the economy greatly there either.

Its a quick half arsed fix and a stunt to buy votes in my opinion.

Offline noss

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Re: "Economic stimulus"
« Reply #4 on: Feb 5, 2009, 09:22AM »
the liberals had a couple of those quick fix throw money about stunts too dont forget.

the government is acting on advice from the tax department and also an international report that was released last week.. i cant say i agree with it either, but the government is acting on advice they have received.

also dont forget that it isnt just throwing money at people, it includes plenty of work on schools which will prop up the design and construction industries.


if it passes, i get 950.. but it'll go off my credit card.

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Offline chr1S

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Re: "Economic stimulus"
« Reply #5 on: Feb 5, 2009, 09:31AM »
lol wut colby?!

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so this effectively will bring no benefit from my $950 or my wifes

typo or are you for real?
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to be fair, it wouldn't be ANTRX if we stayed on topic.

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Offline SSS

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Re: "Economic stimulus"
« Reply #6 on: Feb 5, 2009, 09:33AM »
Myself and my wife are entitled to it; it's only going to sit in the account offsetting interest on the mortgage, fuck buying unneccessary shit.

I was hoping this crap would be blocked by the Libs, doesn't seem so at this point in time.

Offline wombat

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Re: "Economic stimulus"
« Reply #7 on: Feb 5, 2009, 11:25AM »
Chris - i'm 99% sure it was a typo - he meant wife's (money)

if you have more than one wife, they are wives.
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Offline Colby

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Re: "Economic stimulus"
« Reply #8 on: Feb 5, 2009, 12:50PM »
lol you're right I needed an apostraphie.  I have one wife who should also be getting $950 if it goes through.

I'm actually rubbing my hands together about the spending on schools and infrastructure... considering i'm in that buisness we'll get more jobs out of it meaning I wont be a statistic in the 6% unemployment by 2010.  Maybe even a payrise :)
Just so long as they dont fast track funding and jobs leaving nothing as far as infrastructure etc. in 2-3 years time.

Offline SSS

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Re: "Economic stimulus"
« Reply #9 on: Feb 5, 2009, 12:59PM »
I'm all for the infrastructure spending; it shits me about the fucking $950 handout to people who do not need it. [insert ciggy smoking, VB swilling, 400 child bearing bogan comments here]

Offline rathies

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Re: "Economic stimulus"
« Reply #10 on: Feb 5, 2009, 06:09PM »
I'm all for the infrastructure spending; it shits me about the fucking $950 handout to people who do not need it. [insert ciggy smoking, VB swilling, 400 child bearing bogan comments here]

but when it comes to spending it in order to stimulate the economy the bogans will do it the fastest..everyone else will do something smart with it like pay bills or save it. i suspect thats why the last payment only went to people on centrelink.
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Offline cruizer

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Re: "Economic stimulus"
« Reply #11 on: Feb 5, 2009, 06:43PM »
Nice discussion. I personally think it is a band-aid solution, kind of prolonging the inevitible. Pretty much carrying our problems over to the next generation (with the deficit). You wonder if paying down debt with the money received would help the problem, considering thats what got us here in the first place.

In regards to spending it I'm debating about it going towards rims, respray or more likely shares.

Offline Vithy

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Re: "Economic stimulus"
« Reply #12 on: Feb 5, 2009, 07:11PM »
mine will go towards a new car of fixin the TRX depends how much is saved by the time i get the $950 well see
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Offline bogan_bob

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Re: "Economic stimulus"
« Reply #13 on: Feb 5, 2009, 07:16PM »
ill get it if it goes through (although i hope it doesnt, there are more sensible options)

My first reaction was to spend it on an o/s holiday, shares or bank it, which of course would all prevent it going back onto the economy.

But realistically it will probably go on the legnum, AYC and gearbox service, maybe finally paint my rims

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Offline wombat

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Re: "Economic stimulus"
« Reply #14 on: Feb 5, 2009, 08:23PM »
The worst part is that to get this through, Australia's 'overdraft' (the amount the government can borrow from everyone put together) needs to be increased from 70 billion to a higher figure.

The interest alone on 70 billion bucks is 350 million a year. That's our taxes etc going overseas. It's staggering numbers when you look at your pay packet of a week/fortnight/month.

a grand a head doesn't go far at all.
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Offline cruizer

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Re: "Economic stimulus"
« Reply #15 on: Feb 5, 2009, 08:42PM »
So get $950 now....pay $70,000,000,000 later....

Mmmmm

Offline noss

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Re: "Economic stimulus"
« Reply #16 on: Feb 5, 2009, 09:43PM »
yeh i dont think its a smart option at all.. schools, yes.. hand outs.. no.. cause the hand outs, they're going to the fuckheads as sss pointed out.. there is a girl i used to go to school with that has 8 children!!  so she will get $950 for hubby working and another $950 for each kid.. $8550 now.. maybe she's smart and she'll put it to good use.. but most likely not.

and yes wombat.. $950 definitely does not go far at all.. for people that only get the $950 that is.

my dad's boss was complaining today that he wont get it.. because his wife earns over $300k a year!! wtf would someone that earns that kind of money want with $950? what a fucking joke.. another guy wrote into the newpaper bitching cause he earns more than $100k.. woopty fucking doo.. once again, if you got that kind of money, sure a "free" $950 would be nice, but in the grand scheme of things, it'd only be a few days pay for them.


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Offline Febrile

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Re: "Economic stimulus"
« Reply #17 on: Feb 5, 2009, 10:07PM »
The purpose of the handouts is simply to get the money flowing through the economy.  The handout figure is approximately equal to 1% of GDP.  This money will be used just like other money people get, and will flow through the economy as other money does.  The government is financing 1% of regular economic activity that would otherwise not be there, and at this stage of the game the whole problem is that there isn't enough economic activity.  Considering that we normally maintain GDP growth of 2-3%, I think this package is a good idea.

As long as the spending helps to keep people employed/employs people, it doesn't matter what it is spent on.
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Offline noss

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Re: "Economic stimulus"
« Reply #18 on: Feb 5, 2009, 10:23PM »
i understand that there is no spending.. but you know why there is no spending? cause people are freaking the fuck out, listening to the news and going 'oh holy shit, lets not spend' so our economy dies further, people lose jobs, viscious cycle. fucking clowns.

in other news, obama declared today that the salaries of ceo's and what not will have a capped pay rate now (in the usa) and that there will be no big payouts for when they leave the companies or bonuses at christmas, as its that kind of stuff that fucked everything in the first place.. good on ya obama, at least someone had the balls to say it!


edit: yes i'm aware dodgy fuckers will find away to keep paying themselves fuckloads of cash
« Last Edit: Feb 5, 2009, 10:25PM by noss »

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Offline slim

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Re: "Economic stimulus"
« Reply #19 on: Feb 6, 2009, 06:39AM »
i was happy when i read about obama's wage limits. its his second one in bout a month, por active aint he

another guy wrote into the newpaper bitching cause he earns more than $100k.. woopty fucking doo.. once again, if you got that kind of money, sure a "free" $950 would be nice, but in the grand scheme of things, it'd only be a few days pay for them.

It's 1% of his income. budget better arsehole and don't gamble $5k+ away each day at casinos.
im not entirely sure its a good thing. The money could be better utilised for projects that need to be completed ( hospitals, public transport, broadband quality & speed ) , pensioners i heard that they arent getting any of this stimuli,

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Offline cruizer

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Re: "Economic stimulus"
« Reply #20 on: Feb 6, 2009, 04:32PM »
It's 1% of his income. budget better arsehole and don't gamble $5k+ away each day at casinos.

So everyone that earns over $100k gambles $5k a day at casinos? Pretty big stereotype mate. I'm sure he's pissed because he payed a $30k uni debt, then gets close to 50% of his income taken in tax. Wonder why alot of people don't bother with uni, the government will support you with hard workers money  ::)

The problem is people are thinking "yay free money", not oh shit we are going to be taxed to buggery to pay Rudds vote buying  :-\


Offline Febrile

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Re: "Economic stimulus"
« Reply #21 on: Feb 6, 2009, 08:47PM »
So everyone that earns over $100k gambles $5k a day at casinos? Pretty big stereotype mate. I'm sure he's pissed because he payed a $30k uni debt, then gets close to 50% of his income taken in tax.

You know you only get taxed 40c in every dollar for only those dollars earnt over $80k?  Someone earning $100k pays 26% of their total income in tax, whereas someone earning $80k pays 22.5% of their total income: in other words $26000 vs $18000, and the man on $100k gets to spend an extra $12000 that he brings home after tax.

Seriously people, there's 0 reasons to have sympathy for people in higher tax brackets - read http://www.ato.gov.au/individuals/content.asp?doc=/content/12333.htm and understand it better.  You have to be earning squillions to even approach the point where you are paying half of your total income in tax.

Quote
The problem is people are thinking "yay free money", not oh shit we are going to be taxed to buggery to pay Rudds vote buying  :-\

You don't think helping to preserve jobs and economic activity now at the cost of future taxes might be a better plan than going through recession and not having a tax burden later?
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Offline cruizer

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Re: "Economic stimulus"
« Reply #22 on: Feb 6, 2009, 09:15PM »
Seriously people, there's 0 reasons to have sympathy for people in higher tax brackets - read http://www.ato.gov.au/individuals/content.asp?doc=/content/12333.htm and understand it better.  You have to be earning squillions to even approach the point where you are paying half of your total income in tax.

I don't think that they should receive sympathy. I'm just saying there seems to be a vendetta against people that earn over $100k. I understand that excessive CEO renumeration is irresponsible. As I said before where is the incentive to go to university or TAFE (which is putting money into our economy) if you know you can receive continous payments and handouts from the govt?

How can I have incentive to work while at uni (which helps stimulate the economy) when I could just leech off the govt (Austudy) and receive weekly payments along with handouts?

You don't think helping to preserve jobs and economic activity now at the cost of future taxes might be a better plan than going through recession and not having a tax burden later?

I think going into a unnecessary deficit is not warrented. Whos to say the $950 handout will stimulate the economy enough (which should be noted will have a short term effect) to have a benefit that will outweigh having to owe that money + interest? Is there no other options? I think there should be other options looked at seriously before throwing more money around that the government doesn't have and can't afford?

I eligible to receive the handout but I just think there is a better way   ??? But what do I know, I'm just a uni student.

Offline wombat

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Re: "Economic stimulus"
« Reply #23 on: Feb 6, 2009, 09:34PM »
I think Obama had a great idea.

If a company receives any of these bailout packages, be it cash, loans, whatever... Executive remuneration is capped at $500,000 a year. That's more than Rudd himself gets for being PM (that's $400,000 I checked).

In the last package, less than 1 billion of the 10 billion went into increasing retail sales.

What I'd do, is borrow the money, yes, but the government should spend it. Build new Hospitals, Schools, Railways, Roads, Dams, Pipelines (send some of these Queensland floods down the Dimmantina, therefore into the Darling, therefore into the Murray)

Spend the money on big projects. Buy something with the money, don't just give it to people in small doses. Then, yes, future generations will have a massive debt, but they will have the infrastructure to trade their way out of it.
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Offline Febrile

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Re: "Economic stimulus"
« Reply #24 on: Feb 6, 2009, 10:16PM »
The whole point of doing it quickly is to arrest the econonomic downturn before it goes into terminal decline, which it will certainly do if we have to wait for big infrastructure projects to get started.

Also, as for uni - if you're only going for the paycheck at the end of the career, you're going for the wrong reasons.  Do it for the experience and for personal development and a broader range of career options, not the possible paycheck.
« Last Edit: Feb 6, 2009, 10:20PM by Narxysus »
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Offline SAIUN

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Re: "Economic stimulus"
« Reply #25 on: Feb 6, 2009, 10:18PM »
How can I have incentive to work while at uni (which helps stimulate the economy) when I could just leech off the govt (Austudy) and receive weekly payments along with handouts?

Just pitching in: I'm on Youth Allowance as a 20 year old TAFE student, and I only get $70 a fortnight. I'd assume that with pretty much any job, working less than 8 hours a week you'd still end up with a fair bit more than that. More $$$ would for a lot of people provide motivation.
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Offline cruizer

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Re: "Economic stimulus"
« Reply #26 on: Feb 6, 2009, 10:59PM »
Also, as for uni - if you're only going for the paycheck at the end of the career, you're going for the wrong reasons.  Do it for the experience and for personal development and a broader range of career options, not the possible paycheck.

I am doing it for the right reasons but if I didn't get a decent pay when I finish it would be difficult to justify the HECS debt  :)

There are two justifiable sides to the debate, I guess only time will tell.

Offline Febrile

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Re: "Economic stimulus"
« Reply #27 on: Feb 7, 2009, 01:34AM »
Just pitching in: I'm on Youth Allowance as a 20 year old TAFE student, and I only get $70 a fortnight. I'd assume that with pretty much any job, working less than 8 hours a week you'd still end up with a fair bit more than that. More $$$ would for a lot of people provide motivation.

You should check that you're getting the right amount, because what you're getting is almost nothing.  Are you still living at home?
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Offline SAIUN

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Re: "Economic stimulus"
« Reply #28 on: Feb 7, 2009, 01:48AM »
Yeah, still at home. I've checked with them several times and it's just a "sorry, that's all you get" kinda thing. They make you jump through absolute hoops as well, so the hassle acts as a slight deterrent for people wanting easy mooch-money.

Back on topic, I'd sure like $950 in my pocket. :P I spent the $1000 bonus last year on Christmas presents for people, so there wasn't much left for me.
« Last Edit: Feb 7, 2009, 01:52AM by SAIUN »
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Offline Febrile

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Re: "Economic stimulus"
« Reply #29 on: Feb 7, 2009, 03:40AM »
Move out of home :) I was getting just shy of $400 per fortnight when I was a student (though that included some rent assistance).
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Offline slim

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Re: "Economic stimulus"
« Reply #30 on: Feb 7, 2009, 05:29AM »
Just pitching in: I'm on Youth Allowance as a 20 year old TAFE student, and I only get $70 a fortnight. I'd assume that with pretty much any job, working less than 8 hours a week you'd still end up with a fair bit more than that. More $$$ would for a lot of people provide motivation.

i was getting $200 maybe a bit more, possibly $270. Studying at tafe and uni. I was also employed working 2 days a week. Have you declared independence ?
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Re: "Economic stimulus"
« Reply #31 on: Feb 7, 2009, 10:34AM »
Have you declared independence ?

Umm, how and why? Didn't know I'd classify as "independent" if living at home still.
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Offline wombat

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Re: "Economic stimulus"
« Reply #32 on: Feb 7, 2009, 02:30PM »
there's some threshold (at least there used to be) that if you earned, say $18,000 in 12 months, you classed as independent of your parents income, and therefore got full austudy while living wherever.
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Offline bogan_bob

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Re: "Economic stimulus"
« Reply #33 on: Feb 7, 2009, 03:10PM »
And you only have to get 75% of that threshold to prove you are independant.

I worked my ass off for 18 months (in between uni), just scraped through, received the yoof allowance for 2 months and got a new part time job that apparently paid too much and they cut me off.

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Offline chr1S

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Re: "Economic stimulus"
« Reply #34 on: Feb 7, 2009, 05:56PM »
The arguments in this thread baffle me, ok we all know how the economy basically operates but don't you think the people that make these calls are just as qualified if not more qualified than the majority of us here?

Seriously..it just makes me feel like i'm reading a thread where a kid at uni was telling a formula one engineer not to use KERS or something.

Oh and fuck centrelink while we're on the topic of aus-study. I moved away from home, studying full time, barely had time for a job, mother had a loan to pay for the house from when my parents split and we got rejected because my "mum earns too much" but all of it goes to the fucking loan? go fuck yourself centrelink. I ate so much into my savings while I was finding a job down there.
« Last Edit: Feb 7, 2009, 05:59PM by chr1S »
Don't let the opinions of the average man sway you. Dream, and he thinks you're crazy. Succeed, and he thinks you're lucky. Acquire wealth, and he thinks you're greedy. Pay no attention. He simply doesn't understand.

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to be fair, it wouldn't be ANTRX if we stayed on topic.

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Offline Febrile

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Re: "Economic stimulus"
« Reply #35 on: Feb 7, 2009, 08:18PM »
The arguments in this thread baffle me, ok we all know how the economy basically operates but don't you think the people that make these calls are just as qualified if not more qualified than the majority of us here?

Just because someone is in a position does not mean they got there by merit.  It would be nice, but that sure as shit ain't the way the world works.
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Offline cruizer

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Re: "Economic stimulus"
« Reply #36 on: Feb 7, 2009, 10:15PM »
The arguments in this thread baffle me, ok we all know how the economy basically operates but don't you think the people that make these calls are just as qualified if not more qualified than the majority of us here?

Seriously..it just makes me feel like i'm reading a thread where a kid at uni was telling a formula one engineer not to use KERS or something.

Comparing economics with engineering is like comparing apples and oranges chris. What the decision needs is a wider variety of options and inputs. I'm sure Kevin Rudd would actually have less idea on what a 'working aussie battler family' needs than he lets on  ::) Rudds applying a policy without showing Australia he has considered the alternatives and the costs (if he considered alternatives).

Just because someone is in a position does not mean they got there by merit.  It would be nice, but that sure as shit ain't the way the world works.

Yeh I reckon. Look at Budgie for example  :P


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Re: "Economic stimulus"
« Reply #37 on: Feb 8, 2009, 07:09PM »
How can I have incentive to work while at uni (which helps stimulate the economy) when I could just leech off the govt (Austudy) and receive weekly payments along with handouts?

lol.. the incentive in doing something with your life, studying and getting a good job is that you will earn fuckloads more than the government will ever give you, you will have a better quality of life.. everything would be different.. where you live, the car you drive, the useless material objects you buy, how drunk you get, who your friends are.. everything you can think of would be different.

In the last package, less than 1 billion of the 10 billion went into increasing retail sales

well that 1 billion of 10 billion did pretty well then.. i know the liberals are saying the last stimulus package didnt work, so is the news and newspapers.. but it actually did.. december last year saw the BIGGEST increase in retail sales for a single month EVER at either 3.2 or 2.9% (going from memory - i read it last wednesday).. previous high was about 0.5% less and the two previous months were around 1%, i think november was less than 1%



edit: also, i dont think there is a vendetta against people earning $100k.. its just seriously, they dont need it (the $950 - well they might, but its through their own fault of overspending, which comes to cruiser's post below). honestly i dont even think people earning what i earn need it.. but the problem is, people have overspent in a big way.. a lot of people have borrowed beyond their means for houses and cars and credit cards.. i on the other hand, although i have massive debt (my house) i borrowed about $50k less than what the bank was going to allow me to borrow and as a result, i've not really had any money dramas because of this.. others i know borrowed right to their absolute limit.. they've missed 1 payment and the bank is threatening to take the house already.
« Last Edit: Feb 8, 2009, 10:23PM by noss »

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Re: "Economic stimulus"
« Reply #38 on: Feb 8, 2009, 07:15PM »
well that 1 billion of 10 billion did pretty well then.. i know the liberals are saying the last stimulus package didnt work, so is the news and newspapers.. but it actually did.. december last year saw the BIGGEST increase in retail sales for a single month EVER at either 3.2 or 2.9% (going from memory - i read it last wednesday).. previous high was about 0.5% less and the two previous months were around 1%, i think november was less than 1%

At what cost though?

I read an interesting article by Jeff Kennet today in the Sunday Mail which spoke about how we need this recession to create a correction, both in overinflated asset prices but in the way people think about borrowing and money.

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Re: "Economic stimulus"
« Reply #39 on: Feb 8, 2009, 08:12PM »
You don't need a recession to do those things though.  A little bit of public education would do a world of good and we could all keep our jobs.  I think anyone who says we "need" a recession is a hack.
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Re: "Economic stimulus"
« Reply #40 on: Feb 8, 2009, 10:02PM »
At what cost though?

I read an interesting article by Jeff Kennet today in the Sunday Mail which spoke about how we need this recession to create a correction, both in overinflated asset prices but in the way people think about borrowing and money.

i'm not saying that we need to go into debt though, i'm just saying, for all the people that are saying the last stimulus didnt work, that is actually incorrect.

You don't need a recession to do those things though.  A little bit of public education would do a world of good and we could all keep our jobs.  I think anyone who says we "need" a recession is a hack.

agreed

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Re: "Economic stimulus"
« Reply #41 on: Feb 8, 2009, 10:09PM »
You don't need a recession to do those things though.  A little bit of public education would do a world of good and we could all keep our jobs.  I think anyone who says we "need" a recession is a hack.

Do you really think telling people they are living beyond there means would make a difference? How effective are smoking ad campaigns? Smokers know it will kill them but do the majority stop?

We are past the point of telling people they live beyond there means, something serious needs to happen to shock people. I know my view is incredibly harsh but I honestly think people are too set in there ways to change.

Education like that needs to start at young age. In the article he said when he was young, if he wanted something he had to make sacrifices and save. Then he'd know whether he really wanted it. Today if someone wants something, they can go on credit, or rent smart it or some other crap. No school I know of offers a subject that provides education on effective money management and working for what you own. Its possible to set up these classes now, weather this storm and hope that those classes sink in to avoid the next recession. Sorry, I mistyped that.

He didn't say we need a recession but more saying it could have a positive effect in a round-about-way.

We can never agree can we Narx?  :P And poo to you noss  :P

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Re: "Economic stimulus"
« Reply #42 on: Feb 8, 2009, 10:29PM »
And poo to you noss  :P

lol.. poo to you too :P

education is always the most important thing.. with anything.. unfortunately, i cant remember the last time some actual real education on something took place. no, i dont think 'shock' tv advertisments of seeing people having no friends cause they're stoned or seeing people lying under a car cause they're drunk are acceptable education.

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Re: "Economic stimulus"
« Reply #43 on: Feb 8, 2009, 11:52PM »
Education like that needs to start at young age. In the article he said when he was young, if he wanted something he had to make sacrifices and save. Then he'd know whether he really wanted it. Today if someone wants something, they can go on credit, or rent smart it or some other crap. No school I know of offers a subject that provides education on effective money management and working for what you own. Its possible to set up these classes now, weather this storm and hope that those classes sink in to avoid the next recession. Sorry, I mistyped that.

So you don't think that regulation requiring creditors to inform borrowers about the full long term implications of their loans would work?  Or free financial advice services for people in difficulty?  Government funded, low interest rate payday lending services, with complementary finincial guidance?  Regulations requiring lenders to properly assess the credit risk of individuals and actually inform them what they can afford to pay and what sort of loan they ought to go for, instead of what the bank is willing to give them?  Also your comparison to smoking campaigns is a bit silly - smoking is addictive, whereas our cunsumer tendencies are cultural.  Change the culture, change the tendencies.  Why shouldn't an ad campaign espousing the benefits of saving for things be successful, especially if backed up by financial advice services?  I mean, there are people out there who don't even realise it's something to learn, for christ sake.
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Re: "Economic stimulus"
« Reply #44 on: Feb 9, 2009, 06:15AM »
for those people that don't think its a good idea, and it wont help at all, and is not going to be of benefit to you and will only increase our national and international debt, therefore fuking things up in the future, be pro active contact centre link your local member for Parliament even send Big Kev a letter, tell em thanks for the offer (insert reason here) need it keep my share and give it to someone who does need it, pensioners and the like people that are to fukn scared to spend cause they have no savings and they only get $180 a week to live on, and they have to pay rent,gas, phone, electricity, etc, the blue rinse brigade are fiscally retentive, maybe if they got a bit more they would spend it on necessary things maybe not, but if you don't need it and or don't think its a good idea, give it back there is your true test of character and resolve about a issue that you are deeply passionate about. See how many of you need it now!! let the excuses begin.

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Re: "Economic stimulus"
« Reply #45 on: Feb 9, 2009, 12:59PM »
So you don't think that regulation requiring creditors to inform borrowers about the full long term implications of their loans would work?  Or free financial advice services for people in difficulty?  Government funded, low interest rate payday lending services, with complementary finincial guidance?  Regulations requiring lenders to properly assess the credit risk of individuals and actually inform them what they can afford to pay and what sort of loan they ought to go for, instead of what the bank is willing to give them?  Also your comparison to smoking campaigns is a bit silly - smoking is addictive, whereas our cunsumer tendencies are cultural.  Change the culture, change the tendencies.  Why shouldn't an ad campaign espousing the benefits of saving for things be successful, especially if backed up by financial advice services?  I mean, there are people out there who don't even realise it's something to learn, for christ sake.

I do understand many financial institutions have been irresponsible with the lending of money. I don't mean to sound like a prick but isn't it common sense that if you borrow money you have to pay it back, along with interest? I just don't think an ad saying "hey if you save your cash and buy it in 5 years instead of getting a loan straight away, you'll be better off". Honestly don't know how you could convince people through advertising to change there ways  :-\

I'm looking at being a financial planner when I finish uni and I'm incredibly keen to advocate for classes at school for children addressing these matters. There isn't sufficient education on financial management. I'm also hoping to start some sort of pro-bono work for people that can't afford to pay for a financial planner.

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Re: "Economic stimulus"
« Reply #46 on: Feb 9, 2009, 08:10PM »
I don't mean to sound like a prick but isn't it common sense that if you borrow money you have to pay it back, along with interest?

No, this isn't common sense.  There are many people out there who have never been properly exposed to how it all works, and that is a big part of the problem - people don't even realise there's anything to learn, as I said before.
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Re: "Economic stimulus"
« Reply #47 on: Feb 9, 2009, 10:50PM »
No, this isn't common sense.  There are many people out there who have never been properly exposed to how it all works, and that is a big part of the problem - people don't even realise there's anything to learn, as I said before.

Fair enough. I was always brought up with an awareness of these things.

On a side note I would MUCH rather see my payout go towards building a school for a community that has been screwed over by these fires than in my account. That money would be much better appreciated and used.

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Re: "Economic stimulus"
« Reply #48 on: Feb 9, 2009, 10:53PM »
http://www.blackstigback.com/
he should stabalise the world economy. Problems all solved
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Re: "Economic stimulus"
« Reply #49 on: Feb 13, 2009, 12:32PM »
The package passed the upper house. SA senator Nick Xenophon caved in and passed it.

$900, coming your way everyone! (unless you earned over 100k last year)
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Re: "Economic stimulus"
« Reply #50 on: Feb 13, 2009, 02:00PM »
New media centre for me. yay.

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Re: "Economic stimulus"
« Reply #51 on: Feb 13, 2009, 02:16PM »
Likewise... Media Centres for everyone!

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Re: "Economic stimulus"
« Reply #52 on: Feb 13, 2009, 02:25PM »
Ill be getting this 950!!

Dunno what to spend it on... Maybe some car parts, could do with some new gauges... or maybe the sileighty conversion can begin!!

I agree with Jaye, its a Band-aid fix... its not going to permanently increase the economy. As i do a bit of correct trading, its interesting to watch what effect these sort of "injection of funds" does/doesn't do!!

Either way, if our dollar becomes stronger or not, I'm still making money trading currencies!!
« Last Edit: Feb 13, 2009, 02:28PM by LoW GLi »

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Re: "Economic stimulus"
« Reply #53 on: Feb 13, 2009, 06:10PM »
gold. buy lots of gold and precious metals. Its the only thing that will survive a depression
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Re: "Economic stimulus"
« Reply #54 on: Feb 13, 2009, 08:02PM »
Try and spend it on things that have a lot of steps in their production.  The more steps = the more people you help employ.
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Re: "Economic stimulus"
« Reply #55 on: Feb 13, 2009, 08:08PM »
Move out of home :) I was getting just shy of $400 per fortnight when I was a student (though that included some rent assistance).

HOLY SHIT, 400 A FORTNIGHT??
how did you live, my rent fortnightly was 320 and my food was like 200, I'd would die
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Re: "Economic stimulus"
« Reply #56 on: Feb 13, 2009, 08:09PM »
I think the hardest part is finding something to buy that employs australian people to produce it. Most of the stuff we buy is from overseas.

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Re: "Economic stimulus"
« Reply #57 on: Feb 13, 2009, 09:24PM »
Coopers keg party time!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! weeeeeeeeeeeeeeeeeeeeeeeeeeee eeeeeeeeeeeeeeeeeeeeeeeeeeeee eeeeeeee

seriously, not many people will spend it i dont think.

and does anyone else giggle a little when they hear the term 'economic stimulus'. immature but still.

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Re: "Economic stimulus"
« Reply #58 on: Feb 13, 2009, 10:40PM »
i was just thinking today BB how nice a big stimulating package would be...

but i guess 900 bucks will be alright :P
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Re: "Economic stimulus"
« Reply #59 on: Feb 13, 2009, 11:10PM »
HOLY SHIT, 400 A FORTNIGHT??
how did you live, my rent fortnightly was 320 and my food was like 200, I'd would die

Well I was working casual as well, but I was living on about $15k a year and still managing to save a little.  It's really not so hard, you just have to be sensible and not waste money.  I was renting with a couple mates too, so only paying $70 a week at the time.
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Re: "Economic stimulus"
« Reply #60 on: Feb 14, 2009, 11:42AM »
i managed to save enough on centrelink and some casual work to buy my car.
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Re: "Economic stimulus"
« Reply #61 on: Feb 14, 2009, 03:27PM »
excuse my ignorance, ive just returned from overseas, but what are the exact criteria for this pay out? 100k family income or personal, dependant/independant students?
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Re: "Economic stimulus"
« Reply #62 on: Feb 26, 2009, 08:17PM »
excuse my ignorance, ive just returned from overseas, but what are the exact criteria for this pay out? 100k family income or personal, dependant/independant students?

Personal income < 100k - 80k gets docked amount, < 80k and paid tax in 07-08 gets full $900, those on SOME centrelink payouts (inc most students i beleive), post grad students on scholarship/stipend

just wait for it to turn up in your account, then head back to Bali ;)

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Re: "Economic stimulus"
« Reply #63 on: Feb 27, 2009, 05:04PM »
Think i might actually  :P
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Re: "Economic stimulus"
« Reply #64 on: Mar 9, 2009, 02:16PM »
Fucking dodgy [i seem to suffer from tourettes]s.

I love the fact how the advertise the stimulus but they don't advertise one little catch that can affect many people, I was one of them!

If your tax offsets don't exceed $0 - you DO NOT get anything.

Since I claimed absolutely everything on tax last year I got everything back. Now I don't get a cent of the $900. I'd call 1300 686 636 with your TFN equipped ready to see if your eligible.
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Re: "Economic stimulus"
« Reply #65 on: Mar 9, 2009, 05:30PM »
Yeah, I heard about that. Something about if you got back more tax than you paid last year, you don't get this $900. Also I heard on the news some loophole about people who earn less than $11,000 per year not getting the payment either.  ???
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Re: "Economic stimulus"
« Reply #66 on: Mar 9, 2009, 06:01PM »
hope not, i got like 1900 back last year...

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Re: "Economic stimulus"
« Reply #67 on: Mar 9, 2009, 07:39PM »
http://calculators.ato.gov.au/scripts/axos/axos.asp?CONTEXT=&KBS=ESB.xr4&go=ok

Oh, and FYI, investment property FTMFW, huge tax returns are awesomeness ;D

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Re: "Economic stimulus"
« Reply #68 on: Mar 9, 2009, 07:52PM »
thanks SSS for the link
im eligible so now i should think of what to buy to spur the economy on
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Re: "Economic stimulus"
« Reply #69 on: Mar 9, 2009, 08:04PM »
They always said those earning 0 - 80k and paid tax would get it, it always amazes me how people get selective hearing when theres free moey involved, and for some reason, everyone thinks the are going to get the payment

NO ONE IS ENTITLED TO GET THIS MONEY, YOU COUNT YOURSELF FUCKING LUCKY IF YOU DO

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Re: "Economic stimulus"
« Reply #70 on: Mar 9, 2009, 08:06PM »
hope not, i got like 1900 back last year...

But if you paid more than that in tax then you should be fine. Use SSS link to the calculator just to be sure.

I am eligible :)
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Re: "Economic stimulus"
« Reply #71 on: Mar 9, 2009, 08:20PM »
They always said those earning 0 - 80k and paid tax would get it, it always amazes me how people get selective hearing when theres free moey involved, and for some reason, everyone thinks the are going to get the payment

NO ONE IS ENTITLED TO GET THIS MONEY, YOU COUNT YOURSELF FUCKING LUCKY IF YOU DO

What exactly are you trying to say here?  We all paid tax.  They don't mean "and if you didn't pay enough PAYG tax and had to pay a bill instead of get a refund at the end of the year".

And why are we lucky for it?  I mean, it's money that instead of going to the government for them to spend on long term infrastructure and services, we keep and spend on goods and services to stimulate economic activity in the short term.
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Re: "Economic stimulus"
« Reply #72 on: Mar 9, 2009, 08:23PM »
i know people that havnet paid tax.
there reasons were legit and legal man.
pensioners and the people that earned a small amount, etc ....
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Re: "Economic stimulus"
« Reply #73 on: Mar 10, 2009, 04:31PM »
hm bugger. i honestly thought i was for the year 08-09. looks like i miss out. ah well. its a bit unfair though really.
The old USSR had a single time zone. They had a hammer and sickle in the ground near the Kremlin much like a sundial.
Arguments raged for years as to what to call the timezone
Moscow Time?
Comrade Time?
In the end they all agreed.
Hammer Time.

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Offline SSS

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Re: "Economic stimulus"
« Reply #74 on: Mar 10, 2009, 04:38PM »
it's ok, i don't need mine, so you can have it.

all i need is a $50,000 holding deposit payable to:
[language filter smackdown]ian Royalty
Bank of [language filter smackdown]ia
acc: 555 scamalot
bsb: [language filter smackdown]ian-royalty.


lol :P

Offline chr1S

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Re: "Economic stimulus"
« Reply #75 on: Mar 10, 2009, 09:37PM »
Me too Bec, then brains kicked in.  ???
Don't let the opinions of the average man sway you. Dream, and he thinks you're crazy. Succeed, and he thinks you're lucky. Acquire wealth, and he thinks you're greedy. Pay no attention. He simply doesn't understand.

Quote
to be fair, it wouldn't be ANTRX if we stayed on topic.

and if someone wasn't cranky at Chr1s for something he said...

Offline bogan_bob

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Re: "Economic stimulus"
« Reply #76 on: Mar 11, 2009, 03:57PM »
What exactly are you trying to say here?  We all paid tax.  They don't mean "and if you didn't pay enough PAYG tax and had to pay a bill instead of get a refund at the end of the year".

And why are we lucky for it?  I mean, it's money that instead of going to the government for them to spend on long term infrastructure and services, we keep and spend on goods and services to stimulate economic activity in the short term.

Im trying to say that because of all the publicity and hype around the 'free money', many people havent looked at the exact criteria for it and assumed they are going to recieve it but are going to be sadly disappointed when they dont get it.

And we are lucky because its an unprecidented move to just hand out cash to a large proportion of the population, when there were numerous other options the govt could have taken to spend all this money (im not saying this is a good or bad move to be giving handouts)

http://ozvr4.com - check it out :)

Offline LoW GLi

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Re: "Economic stimulus"
« Reply #77 on: Apr 24, 2009, 11:29AM »
I got my Krudd benefit yesterday. Cheque posted to my oldies place!! yeewwww

There is still hope for those who are still waiting!!


Offline hrmmmm

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Re: "Economic stimulus"
« Reply #78 on: Apr 24, 2009, 07:57PM »
I was stimulated by K-Rudds package today, though I don't get to see it, when I had my car in for service I had a loan car and I cleaned up a hare and damged the front bar, a/c bracket and condenser and the radiator and radiator bracket, and the insurance excess is $900.
    Sucks because I was going to spend it locally, instead I have given it to a company (Subaru) who is owned by the japanese (Fuji Heavy industries) who will then pass it onto to an insurance company which is probably owned by an american parent company, and who has undoubtedly by now fired all of it's Australian call centre staff and out sourced thier jobs to India.

Offline bogan_bob

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Re: "Economic stimulus"
« Reply #79 on: Apr 25, 2009, 03:06PM »
lol, 'stimulus package', it still gets me  :D

Havent been stimulated yet, although when i do, like Langers, its straight onto paying insurance excess for the leggie :(

http://ozvr4.com - check it out :)