Tax indexation for millionaires (but screw the rest of you)

So the federal government has watered down the change to tax on $3m super balances. Among other things, the Treasurer has announced that the only federal tax bracket that will be automatically indexed is the one which applies to millionaires' super.

That's right - the threshold for higher tax on super will start at $3,000,000 and rise each year along with inflation.

But the tax brackets for you ordinary peoples' wage and salary income will stay fixed. So their real tax burden will increase each year as inflation pushes salaries up.

Screw you little people.

We will index tax on super for millionaires. But the very second someone on an ordinary income gets hit by bracket creep, expect no mercy.

Privileges for millionaires. How absolutely outrageous.