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