Agreed. The problem with regressive taxes is that it ignores that there's a sweet spot in income for people who perform efficient financial transactions. In rea

Agreed. The problem with regressive taxes is that it ignores that there's a sweet spot in income for people who perform efficient financial transactions. In reality, efficiency doesn't come into play for those who have little discretionary income, so it doesn't matter, outside of the moral standpoint of excising taxes on those who truly can't afford it. They spend the money as soon as they get it. The issue is with the top few hundred thousand income generators, who are heavily incentivized to maintain the status quo, and also have the means to put resources towards it thru lobbying, purchasing and killing innovative competitors, etc.