Its Time To Bite The Bullet; If We Want National Superannuation, We Need Progressive Taxation

It seems like the Labour Party has fallen prey to the baby boomers’ panic over national superannuation with its announcement that it will raise the age of entitlement for superannuation to 67 years.

Baby boomers are now staring old age in the face, and with it loss of earnings from paid work, disability, and eventually the need to be taken care of – but by whom? Until the early 1980′s the top marginal tax rate was over 60%. It is now 33% and still the wealthy complain. Continue reading