Are Labor’s tax reforms bad for young people? No. Obviously not.

Won’t somebody please think of the children!!! This was perhaps the most ludicrous sentiment heard from conservatives post-budget, as boomer-friendly media went into full meltdown over modest changes to capital gains, negative gearing, and trusts — tax minimisation vehicles that mostly benefit older, asset-rich Australians.

The “Boomers’ lament” was accompanied by a bizarre claim that Labor’s attempt to mitigate intergenerational inequity was actually the opposite, hurting the very young people it purported to help.