Entrepreneur Dick Smith is proposing the top end of town pay MORE tax to help the budget bottom line.

Labor plans to slash tax concessions for superannuation accounts containing more than three-million-dollars – saying it’s costing the budget 50-billion dollars.

Mr Smith told Ben Fordham, while the government shouldn’t be targeting mums and dads – the wealthiest people can afford to pay 15 per cent more.

“We have 100 billionaires in this country, they are the greediest out… they complain about the tax they have to pay when they can easily afford it!”

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