Again, little balance in the media, this time regarding mooted changes to super, only hysteria and Abbott's line that we're all being gouged by big government to pay for excessive expenditure.

Costello announced that super after 60 would be tax free for all, a bit overgenerous really. This looks after the richer end of town that can spin more income into super than the poorer end, hence benefit more greatly. So, the Lord giveth and now the Lord, only partly, taketh away. The richer may simply restructure having enjoyed several years of using super as their preferred investment vehicle. (Oh, How didst they howl with rage when the Lord gaveth, and how doth they howl now?!), Present retirees who make up a part of the 16 thousand with super balances over 2 million can pull out of super funds to try to minimize tax to get them back to golden Costello days.

So what now with Abbott and his media pack, since the super industry seems to think this reform is actually OK? Oh yeah, it's the thin of the wedge, despite the indexing of the super earnings cut-off. Labor is coming after us all through bracket creep! What an absolutely ridiculous beat-up. And, oh, the uncertainty! A government of any persuasion can change things up, like Costello did, and change them down, like Swan. It's about equity and sustainability for all, including those nowhere near retirement. Many things affecting all Australians compete with overly subsidizing the wealthy.

Super, a bit complex for many, is a great vehicle for Abbott's pack to scare our pants off. True to form, without any acknowledgement of indexation or the equity issues involved, it's the greying vote he's after.

Finally, I'd just like to say I'm sick of folk who bitch about low interest rates of return and who never expect to dig into the capital they've accumulated for retirement. They expect to live only off its earnings and then, presumably, bequeath it upon death.

It's official, we're unhappier and bigger whingers than the Poms, led magnificently by Abbott.

A truth should not be avoided here.
Labor, as both sides do, floated its kite, the intention to change taxation on super.
Badly done, no doubt they intended much more, but the truth is it was a silly thought.
Some one, probably Shorten saved the day, by putting a far lesser plan out, and claiming it was always that way.
Truth? the changes raise very little as the super rich just invest in other than super, over and above the $100.000 tax free mark.
And too Liberals have no intention of taxing their base.

http://pbxmastragics.com/2013/04/04/superannuation-tax-breaks-for-the-fabulously-rich-under-threat-from-gillard-tax-breaks-for-the-lowest-30-under-threat-from-abbott/

Read all about it at the above link.

Belly, here again we Greens support Labor on this one, time for some social justice. Abbott and him misinformation to confuse the vast majority, so the 1% who he represents are not disadvantaged. It is amazing how a conservative shyster like Abbott is able to convince the gullible, and there are plenty of them on this forum, that he represents them. Unless they are part of the 1%, you see them attacking Labor from all angles. These want-to-be's are fooled by the likes of Abbott into believing they too can get their snouts into the trough, well one day that is, simply by voting for him and his political cronies, fat chance suckers!

it appears there is also some RICH who will escape this.

http://au.news.yahoo.com/latest/a/-/latest/16592310/some-politicians-exempt-from-super-changes-lawyer/

"There are limits that the Constitution imposes that means that it's very difficult for the Commonwealth to apply its super changes to state judges and state politicians.

"It's also possible that it may be difficult to apply the super changes to sitting federal judges."

Do I see another MRT tax debacle.

Personally I support the tax BUT do it right.

Close the loop holes first, then you may retain a small degree of integrity Juliar.

Did you hear the one about the elected politician syphoning off the tax purse to fatten his superannuation package?

Did you hear the one about the two elected politicians syphoning off the tax purse to fatten their superannuation packages?

Did you hear the one about the three elected politicians syphoning off the tax purse to fatten their superannuation packages?

Etc., etc., etc. You get the picture...........suckers!

certainly nothing wrong with getting some tax out of the rich however everyone knows how incompetent and wasteful this Government along with the Greens are.