Labor owns the RBA’s economy, like it or not. It must make its plans explicit, and exclude the right — even if the Greens attack from the left.
No matter how cynical and jaded you get, you never really get used to News Corp’s way of running news like a campaign, with no reference to actual events. For a week, across The Australian and the tabloids that pay its way, just, we had nothing but the horror of Jim Chalmers’ very modest increase on tax on super holdings above $3 million.
The opening barrage was the old “politics of envy” stuff. But even the donkeys at News Corp HQ knew this wasn’t enough. So then we had speculation about how many people would be paying the higher rate in 30 years, when bracket creep had done its job — and no one, apparently, would have altered the threshold.
That was sillier, but it was no sillier than plan C, which was to find people who had $3 million in super, but were renting and would face “real hardship” because they had decided to pay the vast rents of luxury property they must have been able to afford to buy at an earlier stage. Someone should get a Walkley for finding two of the nine people who made that life decision.
Keep reading Rundle on Labor’s fight for the economy.
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