The Senate is scheduled this week to vote on the government’s proposed superannuation tax increase, which targets balances of more than $3 million.

The government’s pitch that this tax will impact a tiny minority is misleading. In truth, it is set to be one of the largest intergenerational tax changes in recent memory, disproportionately impacting young adults, teenagers and children by an unprecedented factor well beyond the generations of either Anthony Albanese or Jim Chalmers.