Benefits for both types of super exemptions were skewed to higher income earners. In 2020–21, 90% of the contributions benefit went to people with above median income, and 30% went to people in the top tenth of taxable income earners.

The biggest takeaway, in my opinion. As always the biggest tax breaks benefit the rich the most.

“But they pay more tax!”, cry the temporarily embarrassed millionaires defending their future socio economic peers.

That’s the whole point of a sliding scale ffs. Everyone should be able to afford the essentials (tax free threshold). If you work harder and earn more money you should be able to keep most of it (lowest tax bracket). But once you’ve got your cake, and eaten it, and are now trying to gobble up everyone else’s cake too you need to have some of that cake withheld to ensure there’s enough for everyone.

Having all these concessions that only the rich get to take advantage of totally poops all over the whole concept.