The Albanese government has declared that they will increase the earnings tax rate on super accounts with a balance of over $3 million, much to the chagrin of the wealthy.
While this has made prime fodder for comedians to mock the rich, there are more serious issues at play here. Super tax breaks need reform and budget deficits need to be repaired.
Economic Policy Program Director Brendan Coates, Senior Associate Joey Moloney, and host Kat Clay, discuss whether the government should be cutting tax breaks on multi-million dollar super balances.
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