Mr Coates said the $3 million cap was “a sensible change” but just “the first step on a long path” to improving a super system which favours the rich and older generations.
This meant young people were unfairly footing the cost of increased public spending in aged care and health as Australia’s population grew older, he said, while retirees shored up savings in their super accounts.
They’re joking right? Grattan pays no tax on its $30 million asset base and had tax free investment earnings of $6 million in 21/22. They’re in no position to attack people’s retirement savings until they start paying tax themselves. God spare me.
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