Author Topic: "Economic stimulus"  (Read 15398 times)

0 Members and 1 Guest are viewing this topic.

Offline cruizer

  • post whore
  • *****
  • Posts: 2428
  • Karma: +45/-7
  • Gender: Male
"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

  • Forum Predator
  • post whore
  • *****
  • Posts: 1159
  • Karma: +36/-13
  • I like having thumbs
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 »
Doo-woop-shoobie-doo-waah

Offline wombat

  • antrx.com junkie
  • *****
  • Posts: 823
  • Karma: +11/-3
  • Gender: Male
  • Sleep... What's that?
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.
I'm so far behind at work, I'm almost retro!

Offline Colby

  • post whore
  • *****
  • Posts: 2395
  • Karma: +36/-5
  • Gender: Male
  • KA24DE powered TRX
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

  • Administrator
  • post whore
  • *****
  • Posts: 13882
  • Karma: +278/-50
  • Gender: Male
  • great scott!
    • antrx
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.

http://polyfedelicio.us/imgs/ - free image hosting for whatever you like

Offline chr1S

  • r&d team
  • post whore
  • *****
  • Posts: 6995
  • Karma: +117/-116
  • Gender: Male
Re: "Economic stimulus"
« Reply #5 on: Feb 5, 2009, 09:31AM »
lol wut colby?!

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

typo or are you for real?
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 SSS

  • Administrator
  • post whore
  • *****
  • Posts: 8279
  • Karma: +5020/-3
  • Gender: Male
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

  • antrx.com junkie
  • *****
  • Posts: 823
  • Karma: +11/-3
  • Gender: Male
  • Sleep... What's that?
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.
I'm so far behind at work, I'm almost retro!

Offline Colby

  • post whore
  • *****
  • Posts: 2395
  • Karma: +36/-5
  • Gender: Male
  • KA24DE powered TRX
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

  • Administrator
  • post whore
  • *****
  • Posts: 8279
  • Karma: +5020/-3
  • Gender: Male
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

  • I may be going to hell but I'm going in a 4BY
  • post whore
  • *****
  • Posts: 2723
  • Karma: +41/-22
  • Gender: Male
  • Patrol of Doom coming soon
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.
Previous rides: KA24ET TRX,  2000 GUII Patrol 4.2 td, AntrxWA whore TRX owner 4/5, 99 Landrover Discovery TD5
Current Ride(s):  91 GQ Patrol ST-3 RB25DET Converted :)

Offline cruizer

  • post whore
  • *****
  • Posts: 2428
  • Karma: +45/-7
  • Gender: Male
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

  • post whore
  • *****
  • Posts: 1516
  • Karma: +7/-3
  • Gender: Male
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
"Noss is God"

Offline bogan_bob

  • antrx.com junkie
  • *****
  • Posts: 806
  • Karma: +16/-6
  • Gender: Male
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

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

Offline wombat

  • antrx.com junkie
  • *****
  • Posts: 823
  • Karma: +11/-3
  • Gender: Male
  • Sleep... What's that?
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.
I'm so far behind at work, I'm almost retro!

Offline cruizer

  • post whore
  • *****
  • Posts: 2428
  • Karma: +45/-7
  • Gender: Male
Re: "Economic stimulus"
« Reply #15 on: Feb 5, 2009, 08:42PM »
So get $950 now....pay $70,000,000,000 later....

Mmmmm

Offline noss

  • Administrator
  • post whore
  • *****
  • Posts: 13882
  • Karma: +278/-50
  • Gender: Male
  • great scott!
    • antrx
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.


http://polyfedelicio.us/imgs/ - free image hosting for whatever you like

Offline Febrile

  • Forum Predator
  • post whore
  • *****
  • Posts: 1159
  • Karma: +36/-13
  • I like having thumbs
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.
Doo-woop-shoobie-doo-waah

Offline noss

  • Administrator
  • post whore
  • *****
  • Posts: 13882
  • Karma: +278/-50
  • Gender: Male
  • great scott!
    • antrx
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 »

http://polyfedelicio.us/imgs/ - free image hosting for whatever you like

Offline slim

  • post whore
  • *****
  • Posts: 1517
  • Karma: +16/-7
  • Gender: Male
  • Nissan Bluebird SSS 1996 ®
    • Pictures
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,

  • Bosch HID Kit, Clear Side & Front Indicators + Bulbs
  • B&M Shortshifter
  • JVC DVD Touchscreen 5.1 Surround Sound
  • Full Whiteline Kit
  • Tokico Shocks
¤ slim's 1996 SSS Bluebird Project Thread

Offline cruizer

  • post whore
  • *****
  • Posts: 2428
  • Karma: +45/-7
  • Gender: Male
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

  • Forum Predator
  • post whore
  • *****
  • Posts: 1159
  • Karma: +36/-13
  • I like having thumbs
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?
Doo-woop-shoobie-doo-waah

Offline cruizer

  • post whore
  • *****
  • Posts: 2428
  • Karma: +45/-7
  • Gender: Male
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

  • antrx.com junkie
  • *****
  • Posts: 823
  • Karma: +11/-3
  • Gender: Male
  • Sleep... What's that?
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.
I'm so far behind at work, I'm almost retro!

Offline Febrile

  • Forum Predator
  • post whore
  • *****
  • Posts: 1159
  • Karma: +36/-13
  • I like having thumbs
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 »
Doo-woop-shoobie-doo-waah

Offline SAIUN

  • antrx.com junkie
  • *****
  • Posts: 856
  • Karma: +7/-5
  • Gender: Male
  • ~(> ^_^)>
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.
Current mods:
ANTRX.com KA24E Stage 2 ECU chip (5kW)
ANTRX.com sticker (30kW) ;D

... that's about all.

Offline cruizer

  • post whore
  • *****
  • Posts: 2428
  • Karma: +45/-7
  • Gender: Male
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

  • Forum Predator
  • post whore
  • *****
  • Posts: 1159
  • Karma: +36/-13
  • I like having thumbs
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?
Doo-woop-shoobie-doo-waah

Offline SAIUN

  • antrx.com junkie
  • *****
  • Posts: 856
  • Karma: +7/-5
  • Gender: Male
  • ~(> ^_^)>
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 »
Current mods:
ANTRX.com KA24E Stage 2 ECU chip (5kW)
ANTRX.com sticker (30kW) ;D

... that's about all.

Offline Febrile

  • Forum Predator
  • post whore
  • *****
  • Posts: 1159
  • Karma: +36/-13
  • I like having thumbs
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).
Doo-woop-shoobie-doo-waah