Scott Morrison - How Long? Part 2

[hamohawk1]

Since when do governments subside everyones salaries? I don't like it. This is going to hurt us for years.

I like it (from a personal sense ensures i get paid for a while) but seriously down the line we're going to need some seriously strong economic policy to pay this back.

 

[Number37]

Since when do governments subside everyones salaries? I don't like it, its far too much. This is going to hurt us for years.

Since March 1, 2020.

 

[QuietB]

Although he's really taking cues from the UK, I have to say that the JobKeeper scheme is the most ambitious, brave scheme put in place by a government that I can remember.

If it staves off* or even limits a recession, then it's difficult for me to begrudge him being re-elected.

*Could be too late for that though, given the payments are not due to begin for at least a month

Who would have ever expected that these campaigners would go full communist

Hope it works - how does it unwind at the end?

 

[QuietB]

Since when do governments subside everyones salaries? I don't like it, its far too much. This is going to hurt us for years.

Let me guess - let the zombie shit die and go with austerity?

 

[Gavin Excell]

Let me guess - let the zombie shit die and go with austerity?

Bugger austerity
Go for growth

 

[campbell]

Devil in the detail.
It will get ugly.
This is reliant on employer doing right thing.
This is taxable.

https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet_Info_for_Employers_0.pdf

 

[SBD Gonzalez]

\ why is it that lefties are only happy when government is spending us to the edge of oblivian?

It's only you that thinks that actually. We've watched right wingers whiteant government for decades and we're sick of it.

If you take one lesson away from this crisis - government is not evil per se. Spending is not evil per se. Taxation is not evil per se.

Government can do things for the greater good that the BS "free" market is utterly incapable of delivering.

 

[DaRick]

Who would have ever expected that these campaigners would go full communist

Hope it works - how does it unwind at the end?

Good question.

Given the open-ended nature of the coronavirus and the economic slump, it would probably have to be wound down over months or even years.

 

[DaRick]

Devil in the detail.
It will get ugly.
This is reliant on employer doing right thing.
This is taxable.

https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet_Info_for_Employers_0.pdf

I understand that the employer could theoretically flout the wage subsidy thing by paying the employee 'pro forma' (on the books) without actually giving them the money.

 

[SBD Gonzalez]

I like it (from a personal sense ensures i get paid for a while) but seriously down the line we're going to need some seriously strong economic policy to pay this back.

Well here's the thing. If we don't give the economy an almighty push-along we won't have much of an economy to pay anything back with.

John Maynard Keynes hasn't exactly been disproven. It's just that Neolibs blocked their ears to his truths for the last 4 decades.

 

[hamohawk1]

Call me naive, but how many organisations would be turning over more than 1 billion dollars a year?

 

[Pistol Night]

Call me naive, but how many organisations would be turning over more than 1 billion dollars a year?

 

[Ghost Patrol]

 

[Hawk Dork]

Call me naive, but how many organisations would be turning over more than 1 billion dollars a year?

Employers will be eligible for the subsidy if:
•their business has a turnover of less than $1 billion and their turnover will be reduced by more than 30 per cent relative to a comparable period a year ago (of at least a month)
; or
•their business has a turnover of $1 billion or more and their turnover will be reduced by more than 50 per cent relative to a comparable period a year ago (of at least a month);

 

[The King!]

so the business has an employee making 3k a fortnight and has to stump up the other 50% themselves to get the payment?

interesting

 

[campbell]

so the business has an employee making 3k a fortnight and has to stump up the other 50% themselves to get the payment?

interesting

As I said. Devil in the detail.

 

[eddiesmith]

so the business has an employee making 3k a fortnight and has to stump up the other 50% themselves to get the payment?

interesting

If they are still operating and earning money, if the employee has been stood down because the business has stopped then it would just be the $1500 a fortnight they would receive, that's my understanding of it anyway.

 

[The King!]

If they are still operating and earning money, if the employee has been stood down because the business has stopped then it would just be the $1500 a fortnight they would receive, that's my understanding of it anyway.

yeah seemed like it was optional to bump it up

 

[stormee]

I love the predictable Sally McManus/ACTU response... the govt has just rolled out what is effectively one of the most expensive programs ever, and rather than support, like the chamber(s) of commerce have, they complain that the govt isn't paying the median weekly wage (around AUD1300)... what a joke.

 

[Gavin Excell]

It's only you that thinks that actually. We've watched right wingers whiteant government for decades and we're sick of it.

If you take one lesson away from this crisis - government is not evil per se. Spending is not evil per se. Taxation is not evil per se.

Government can do things for the greater good that the BS "free" market is utterly incapable of delivering.

In some ways its probably better a Liberal government is in power at this point. These measures would be in danger of being labelled commie like had the ALP held govt

 

[Balls In]

It's only you that thinks that actually. We've watched right wingers whiteant government for decades and we're sick of it.

If you take one lesson away from this crisis - government is not evil per se. Spending is not evil per se. Taxation is not evil per se.

Government can do things for the greater good that the BS "free" market is utterly incapable of delivering.

The debt we have racked up will hurt every Australian for decades as the punitive taxes, coupled with indefinate wages freeze required to pay for it all will drop everyones standards of living. Its a full blown humanitarian disaster you can't even contemplate because you still believe in the magic money tree that "governments" have to "fix" all of these problems.

 

[Neese]

My job is local government. Unsure how this is going to work for that

 

[QuietB]

The debt we have racked up will hurt every Australian for decades as the punitive taxes, coupled with indefinate wages freeze required to pay for it all will drop everyones standards of living. Its a full blown humanitarian disaster you can't even contemplate because you still believe in the magic money tree that "governments" have to "fix" all of these problems.

Debt to who though? USA will be printing money at will and at a much higher rate, Britain will print cash and the EU will and quite frankly everyone everywhere will.

If everyone does it, and everyone will, doesn't it just roughly net out?

 

[stormee]

Debt to who though? USA will be printing money at will and at a much higher rate, Britain will print cash and the EU will and quite frankly everyone everywhere will.

If everyone does it, and everyone will, doesn't it just roughly net out?

How much of it will be 5/10 year T bonds/bills with a yield of less than 1 per cent? That’s cheap debt in anyone’s language. Won’t be too hard to service assuming a good level of economic growth.

 

[SBD Gonzalez]

I love the predictable Sally McManus/ACTU response... the govt has just rolled out what is effectively one of the most expensive programs ever, and rather than support, like the chamber(s) of commerce have, they complain that the govt isn't paying the median weekly wage (around AUD1300)... what a joke.

So, predictable like this government giving millions to the airlines before taking practically any other action?

Predictable like this government handing out tax cuts willy-nilly after the election but refusing (until COVID forced their hand) to countenance an increase in Newstart, which hadn’t had an increase in real terms since 1994?

That sort of predictable?