WEDNESDAY'S editorial, ("Has PM backflipped on super reform?", Editorial, 1/3), seeks sympathy for the offspring of the extremely wealthy "as the ultimate beneficiaries of their parents' accumulated assets" when considering the fairness of Labor's extra tax on super accounts.
The whole idea of superannuation is for a comfortable retirement. It was never intended as a wealth-making vehicle for inheritances. Prime Minister Anthony Albanese makes the valid point that it is difficult to argue that multimillion-dollar accounts are just for retirement. Previous governments have turned super into a wealth protection racket for those who can game it at the expense of those who can't and the wealthy are milking it for all it's worth.
