There's some interesting dynamics coming from this rushed and panicked move (it went from "only hypothetical" last Sunday according to the PM, to proposed legislation less than 24 hrs later).
I'd imagine that a majority of Millenials and Gen Zers would've voted for Labor or the Greens. Many of them would have been cheering on the idea of slugging those rich, lucky boomers with a tax hit.
They'll be realising this weekend that the boomers have actually got off pretty lightly. Their socialist treasurer has managed to come up with a change that will tax younger generations far more than retirees or those about to retire because of his insistence on non-indexation of the new cap. I can't think of any other tax that will have such a variation in impact depending on your age. The bracket creep on income tax hits everyone the same.
The smarter ones will start to realise that in most cases this won't hurt their parents but it could bite them badly.
