In which Taylor — whose own asset portfolio was described by the Sydney Morning Herald as "opaque and labyrinthine" owing to his extensive use of family trusts — would be obliged to defend tax minimisation to the death."Who Do You Discretionary Trust?" You can picture the campaign lines now.But there's more.Taylor last night became the first Liberal leader since Malcolm Fraser to promise the full indexation of tax thresholds, eliminating the phenomenon of bracket creep.This is where inflation and wage rises push taxpayers into a higher tax bracket, obliging them to pay more tax, even though the basic balance between what they earn and what they spend hasn't changed.What treasurers theatrically announce from time to time as "tax cuts" are commonly just readjustments of bracket creep, dressed up as a present; it's like if a landlord who has written in an automatic annual rent increase into your lease pops around every Christmas and performatively gives you a lovely pot plant.Make no mistake, what Taylor has announced here is a very significant measure, which blows up a heretofore fairly quiet sweetheart deal between the two major parties And times have changed.To appreciate just how much they've changed — even in the Liberal Party — it's worth one more look at that first budget reply speech from Dutton, considered at the time a hard-liner on immigration