Government stimulus defeated in legal case.

[Redmund]

Good 1 GTP006. I'm all for plugging holes with cork

[4Vman]

Ive got no problems spending money to stimulate the economy.. but make sure its spent on things that will remain assets of the country and stimulate employment here like local essential services and infrastructure...
This "handout" will get flushed out to sea, puffed into the air or transferred off shore it return for foreign made imported goods.
Then everyone of us will have to pay it back over time with interest.

[LowEL2XR8]

Originally Posted by prydey

no one has any of this payment yet. the payments that have been handed out already are the ones associated with family tax benefit.

the one in doubt is the one for all workers earning under 80 or 100K i think.

Wrong. Sister in law has received her $900 and spent it already.

Friends wife also received hers.

[Jason[98.EL]]

Originally Posted by LowEL2XR8

Wrong. Sister in law has received her $900 and spent it already.

Friends wife also received hers.

but what one did they get

remember there has already been 2 paid that are not related to the one this guy is fighting

the ones i have received are the back to school of $950 and a single income for families of $900 they were both dependent on getting family assist it had nothing to do with the amount you paid or received from from the tax department

i know the ones that i got were all dependent on the family TAX benefit

Jason

[paule11]

Originally Posted by Grimus

but what one did they get

remember there has already been 2 paid that are not related to the one this guy is fighting

the ones i have received are the back to school of $950 and a single income for families of $900 they were both dependent on getting family assist it had nothing to do with the amount you paid or received from from the tax department

i know the ones that i got were all dependent on the family TAX benefit

Jason

We got the same money for the kids and single income for families, last week I think it went into the bank. Is this money part of the 42 million

[Pursuit250]

A bit of an update in the situation.

http://au.biz.yahoo.com/090401/2/25igf.html

[GT0132]

Originally Posted by RPO83

I hope the High Court finds in favour of the Professor. I'm sick of this country believing that the money they are given from the Government somehow comes from a magical place. Now that we have a huge deficit you and your children will be paying all of this money back for years to come, with interest.

We're in recession, we now have a huge deficit, unemployment is rising and yet with all this Kevin Rudd is our favourite Prime Minister? This country is stuffed.

The guy who wrote this should be PM :sm_headba

[mcnews]

Sounds like a great beat up to drive newspaper sales or drive traffic to a news site to me.

[MAD]

Originally Posted by GTP006

I find it staggering that people can say "lets just spend $42,000,000,000.00 and see what happens" or further, people can be so upset by the prospect of not getting something that they haven't earned and would not normally be entitled to in the face of massive job losses.

There is not $42bn in $900 handouts to tax payers.
The handouts make up for $12.7bn in TOTAL (the $900 and $950 payments).

There is plenty more to the $42bn that is yet to roll out.


From http://www.economicstimulusplan.gov.au/theplan.htm ...

In getting on with the job, the Australian Government is funding:

• A new 21st century school library, multipurpose hall, or classroom modernisation for each primary school in Australia.
• New science labs or language centres for 500 secondary schools.
• Grants of up to $200,000 for individual school communities to fund much-needed maintenance.
• Ceiling insulation for around 2.7 million Australian homes.
• Increased rebates for solar and heat pump hot water systems.
• 20,000 new social housing dwellings.
• 802 new houses for the Australian Defence Force.
• Urgent maintenance to upgrade around 2,500 vacant social houses.
• An additional 30 per cent tax deduction for small and general businesses buying eligible assets.
• 350 additional projects in the Black Spot Program
• Installation of around 200 new boom gates at high risk rail crossings.
• $650 million funding boost for local community infrastructure and maintenance on Australia’s national highways.
• One off cash payments to eligible families, single workers, students, drought affected farmers and others.
• If you earned less than $100,000 in the 2007-08 financial year and paid tax you could be eligible for a tax bonus payment of up to $900.

Go check out the rest of the stuff this $42bn is going towards. There's a lot more than what's made out on just about every online forum that's full of expert economic analysts.

[Scott]

^^ I understand that, but the package is $42b and that is therefore the size of the money at stake by a Government that seems clueless.

Add the ~$12b from this one with the last one of $10b (most of which was hand-outs) and we find the staggering sum of ~$22b just given away with seemingly scant regard for where it will go notwithstanding the first homeowners grant changes.

It seems that any help the government tries to give to first home buyers will be purely an excercise in paper pushing though with the banks now [finally] pulling away from 100% loans.

[Gobes32]

I wish Ford Forums ran this country because then we would all be super dandy.......

Whatever happened to political threads being locked?

[MAD]

I get the point that you think it is a pointless exercise to hand out all this money, but there a many leading organisations that agree this is the way to go. Given, their acceptance may well be based on the situation that everyone will SPEND the money, not save it or pay off debt with it.
But then paying off debt isnt always going to be bad in this situation, if someone pays off $900 owing on their credit card, they are then more likely to add to the credit card again.

There are far too many what if's to go round doubting the current action, or spouting the solution. (this is not directed at anyone)

[XWGT]

Originally Posted by MAD

There is not $42bn in $900 handouts to tax payers.
The handouts make up for $12.7bn in TOTAL (the $900 and $950 payments).

There is plenty more to the $42bn that is yet to roll out.



Go check out the rest of the stuff this $42bn is going towards. There's a lot more than what's made out on just about every online forum that's full of expert economic analysts.

Except their not. Now they are saying their is a (surprise surprise wait for it! 13bill hole in the May budget) and programs cannot be funded and will have to be reduced. Soooooooooooooooooooooooooooooo we just took the May budget, converted the infrastructure spending from it to a short term cash stimulus, delviered it earlier (great vote winner) and get to delay the fact the money was stolen from the Federal budget until we are in recesssion in June and it seems to be a rational argument all of a sudden. Brilliant!

[Iggypoppin']

Great responces guys. Nothing like a political thread to boil the blood haha. Let's none of us forget, we are not the PM, and it can't be easy for him to lead a COUNTRY in this time. We can criticize all we like but in reality K-Rudd is only doing what is believed to be a good thing. None of us are really in a position to hate on him, because he has no experience in these matters. None of us really do. His efforts have been praised by Obama and Gordon Brown too. That's gotta count for something.

[Fireblade]

This stimulus package was rated number one at the G20 summit amongst world leaders and economists, krudd must be doing something right. But then again we all could be prime minister of Australia.

[Scott]

Originally Posted by MAD

I get the point that you think it is a pointless exercise to hand out all this money, but there a many leading organisations that agree this is the way to go. Given, their acceptance may well be based on the situation that everyone will SPEND the money, not save it or pay off debt with it.
But then paying off debt isnt always going to be bad in this situation, if someone pays off $900 owing on their credit card, they are then more likely to add to the credit card again.

Correct. But even if everyone did spend the money as intended, it will probably only create a ripple, not the wave we all want.

Consumer spending does not save jobs, business spending does. Business may spend because of demand which would be lovely (and is also the norm in normal times) but I also wonder how much of the money will simply go to moving excess stock, after which the business would think - ok, now where's the money going to come from.

I guess what I am saying is that a handout spree is only a very short term boost even if it is delivered perfectly.

There must be a better way.

[BOSSGT302]

There is not $42bn in $900 handouts to tax payers.
The handouts make up for $12.7bn in TOTAL (the $900 and $950 payments).

There is plenty more to the $42bn that is yet to roll out.

With the majority of world economies in recession and have budget deficits, who is rich bloke lending all the green? :

[GT0132]

The money would be better spent improving the increasingly decaying health system and putting more cops on the streets to curb escalating law and order problems.

Sure, Healthcare and Law Enforcement are State government issues..but the States (particularly NSW) have demonstrated time and time again they can't manage these areas...same with Transport, Education and Roads which are becoming "Ethiopian like"

[SpoolMan]

These are no win threads, that start off as information and turn into a blue and a red corner.
A good place to discuss politics for the red and blue corner is here..
http://cracker.com.au/politics-forum/forums.htm