Gillard's super plan is far too rich

Proposals leaked by Treasury and government officials are classifying superannuation wealth in a manner vastly out of line with the real world. It's a big mistake that will become a pivotal election issue.

Could Prime Minister Julia Gillard or Treasury Secretary Martin Parkinson live on $38,000 a year of superannuation income with their spouses in retirement? Of course not, and I emphasise I am not playing the weeping game to embarrass them but rather to underline that the current ‘tax the rich’ and end ‘middle class welfare’ proposals being circulated to friendly journalists by Treasury and government politicians are terribly unfair.

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