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12:36
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Originally posted by Raphius:
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Well people do get screwed over in the case of super and the $3 million dollars, $3 million dollars today is not the same $3 million dollars when you go to retire, it's actually worse in this case as it is over such a long period of time. Super was introsuced in 1992 so we are yet to see how people gwtting this their whole working life will be affected, it was disingenuous by Labour to say it only affects %1 when many more in years to come will end up being affected.
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Let's say that super reform is indexed. The retiree not paying tax winds up better off. The current (future) worker paying a higher tax rate because of that forfeited revenue is worse off. It's a question of who will pay. Aggregate demand for government services doesn't alter greatly by that tax change, so someone ends up paying for it.
