I have no idea why every news article on this matter makes it sound like everyone should be against these changes. Superannuation has for decades been a neat place to dump surplus salary to get it taxed at a lower income tax rate.

Under the superannuation tax changes, the concessional tax rate on earnings for balances between $3m and $10m will double from 15% to 30%.

Balances above $10m will be subject to a new, higher 40% rate.

Most of us are not affected by these changes. I truly, genuinely wish I were affected.

Because wages are inadequate and passive wealth or capital inheritance are the new pathway to upward social mobility. It’s not that I think mist people think like this (yet), but news articles are mostly written by people from wealth now, because who can live on a journalist wage these days.