Labor hypocricy on franking credits exposed, page-18

Hi boomeronrations
I was writing at the time of your post but would like to respond to some points.  My superannuation has been taxed at 15% going in as well as 15% during accumulation phase and even 30% at times.  The concessional rate is an incentive to build your balance otherwise it is pointless and hence the whole proposition of compulsory superannuation is defeated.  

The purpose of super was that there not be much left at the "end".
The problem here is how do you know when your "end" is?  In fact the purpose of compulsory super was to remove the burden of funding retirements with the public purse in the future and preferably not to run out before you get to the "end" which these days is into your eighties and in another decade or so it will probably be in your nineties.

In my view the way tax on super has been managed is a complete mess leading to this latest policy which makes it worse.
The rot started when Costello made all super in pension phase tax free without limits.  That was just plain stupid and unaffordable into the future.
What should have been introduced was an indexed income threshold (say $50,000) after which you continued to pay tax on fund earnings.  Not satisfied that they had done enough damage to the system, our Prime Minister (as Treasurer) then set a capital limit of 1.6 million (instead of an income limit).

If super was taxed at marginal rates with an indexed tax free threshold (say $50,000 as suggested above) then there would be no need to set contribution limits because as your fund income rose it would approach the highest marginal tax rates and therefore be self limiting on capital contributions.  Hence the people with 70 million in super would be paying an awful lot in tax after passing a $50,000 income limit thereby satisfying the need for fair treatment with tax concessions.  It would link the tax paid to your income such that when fund returns are 10% you will pay some tax but when they are 2.5% you won't.  That seems fair to me.