Bill Ackman: give every American cash at birth so they can retire a millionaire

Re:Bill Ackman: give every American cash at birth so they ca... by wp381640 on Wednesday December 09, 2020 @08:21PM (#25368292)

Bring back the baby bonus and just pay it into super to kick-start it

It's a shame the super system in Australia is being undermined by early access. Spoke to a car dealership recently and their business has been through the roof because of it.

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Re:Bill Ackman: give every American cash at birth so they ca... by bfieidhbrjr on Wednesday December 09, 2020 @08:31PM (#25368378)

Could you please translate all this? What is super and why would a car dealer be through the roof?

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Re:Bill Ackman: give every American cash at birth so they ca... by TapWaterBandit on Wednesday December 09, 2020 @08:44PM (#25368496)

Super = Superannuation. Basically a portion of your pay (9.5% currently) MUST be paid into a superfund to hold the money until you can access it upon retirement.

Car dealers are through the roof because the government allowed early access to a portion of it if "in distress" due to Covid-19 and lockdowns. However, many people who weren't in distress took the money (their own retirement money, remember) and bought a new car.

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Re:Bill Ackman: give every American cash at birth so they ca... by bfieidhbrjr on Wednesday December 09, 2020 @09:26PM (#25368850)

Thanks!

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