David Leyonhjelm (NSW, Liberal Democratic Party) Share this | Hansard source

My question is to Senator Cormann as the Minister representing the Minister for Revenue and Financial Services. Given expected investment returns, your policy to increase tax on Australians with super balances over $1.6 million is more punitive than Labor's policy to increase tax on earnings over $75,000. Is the government seeking to outdo Labor at taking other people's money? Do you agree that fewer people will ever reach a super balance of $1.6 million because of your policy to impose marginal tax rates on post-tax contributions over $500,000 since 2007 and to increase tax on annual contributions over $25,000? Do you accept that your attack on the hard work, thrift and caution of Australians who save to avoid reliance on the pension represents class warfare and a betrayal of Liberal values?