The former Labor treasurer Wayne Swan talks to Katharine Murphy about the challenge for his party in an era when global politics has shifted to the right. Australia is at a ‘tipping point’, Swan argues. ‘What we’ve seen is the radicalisation of both the Liberal party and very significant sections of the business community aligned with very wealthy plutocrats who are driving far harder for a much stronger and bigger and more powerful trickle-down agenda,’ he says. ‘Trump is the logical conclusion of the Thatcher-Reaganite era.’ Swan calls for a ‘strongly progressive tax system’ in a raft of measures to tackle economic inequality head on and urges Labor to consider a ‘Buffett rule’ to tax the very wealthy and avoid ‘offering some sickening Davos “third way” approach’ • Wayne Swan urges Labor to avoid being ‘trickle down-lite’ on tax