Last week the Australian government started giving away $900 tax bonuses. Although I don't mind that payout, I never thought this was the best way to spend our taxes to stimulate the economy. After reading some news articles about 340,000 students might end up with $1850 bonus and accountants swamped by tax liars coming clean to get $900, I felt totally disgusted to know how inefficient this stimulus package is going to be.
A good portion of these students might end up spending the bonus outside Australia taking holiday, etc. Some bonus-recipients might save, some might spend wisely while others gamble it. What about me? I'll DEFINITELY save majority of it. I consider this bonus as the money we, tax payers, will have to pay back in the future in the form of higher tax or lower standard of health, transport or education. There is nothing like a free meal.
I believe the government should have spent the money on people who lost jobs, struggling families and building more infrastructures in the country. Especially new infrastructures will create more jobs and stimulate other industries with better roads, etc. I hope the government gets it before it's too late.
Take a poll on how you're going to spend the tax bonus?
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