Actually he thinks everything about the way we tax savings is silly.
Here's the key graph from the talk Ken Henry delivered today in Adelaide:
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgz41CiDVX4lOlLy0n2QpZlITHlylJUXx6rxgrtdF68BP8aj9KFprh7vzGeHpktQQ0Z-pruT-u7geLQUrscm72SWUqAJectpuyiguu1KmByptrWd16-iv3gr8Dx04nGIVIjShO-/s400/09_Chart_2b.jpg)
Super contributions are negatively taxed, big time. Rental properties and shares are also negatively taxed big-time, but only if they are funded by debt.
Make sense?
Meanwhile savings parked in bank accounts are taxed massively - at way above the saver's marginal tax rate.
Make sense?
Hold on.
This speech throws the lot into the mix.