Spot on from @grogsgamut
For most of us, #superannuation is about saving for retirement. For people who are already wealthy it’s an effective tax minimisation system allowing them to pass on more wealth to their kids. Tax concessions to this latter group cost taxpayers - all of us - a motsa, while a quarter of age pensioners live in poverty.
This is so obvious! Yet even the most modest reduction of these tax breaks is greeted with a media scare campaign. And as always, #Labor puts perceived political risk ahead of responsible governance.
#SelfFunded retirees* with huge super balances? #YeahRight We see you. #AusPol 🎪
* This is a diverse group, as I have been reminded in the comments below. Not all are retiring in luxury or passing on millions to their kids.
Misleading fear campaigns may kill Labor’s superannuation changes. But here are the real numbers https://www.theguardian.com/business/grogonomics/2025/jan/23/misleading-fear-campaigns-may-kill-labors-superannuation-changes-but-here-are-the-real-numbers-ntwnfb?CMP=Share_iOSApp_Other
For most of us, #superannuation is about saving for retirement. For people who are already wealthy it’s an effective tax minimisation system allowing them to pass on more wealth to their kids. Tax concessions to this latter group cost taxpayers - all of us - a motsa, while a quarter of age pensioners live in poverty.
This is so obvious! Yet even the most modest reduction of these tax breaks is greeted with a media scare campaign. And as always, #Labor puts perceived political risk ahead of responsible governance.
#SelfFunded retirees* with huge super balances? #YeahRight We see you. #AusPol 🎪
* This is a diverse group, as I have been reminded in the comments below. Not all are retiring in luxury or passing on millions to their kids.
Misleading fear campaigns may kill Labor’s superannuation changes. But here are the real numbers https://www.theguardian.com/business/grogonomics/2025/jan/23/misleading-fear-campaigns-may-kill-labors-superannuation-changes-but-here-are-the-real-numbers-ntwnfb?CMP=Share_iOSApp_Other
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Droppie [infosec] 🐨♀:archlinux: :kde: :firefox_nightly: :thunderbird:🦘:vegan: •
That's not always so. I'm a SFR, i suppose, yet there's nothing wealthy about me. I'm not of a "moneyed" lineage, i've inherited no wealth, during my working life i earned a reasonable but hardly large salary. In retirement i've opted to try to exist sans-govt pension, only on a monthly draw from my super, as that was the whole intent of Keating's original plan [replace, not supplement, aged pension, so that more of it would be available for those in more need]. Said monthly draw is less than what i would get if i were instead on govt pension. I don't go out, don't travel, don't entertain, don't buy stuff.
So, just a tiny flag being waved here, fwiw... not all SFR are axiomatically devilspawn.
Hugs4friends ♾🇺🇦 🇵🇸😷 hat dies geteilt
Hugs4friends ♾🇺🇦 🇵🇸😷 •