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In a pure economic sense someone who lost 10% of their $1000 in savings is doing far worse than someone who lost 10% of $1,000,000 in savings. To the first per

In a pure economic sense someone who lost 10% of their $1000 in savings is doing far worse than someone who lost 10% of $1,000,000 in savings. To the first person that 10% could be the difference between whether or not they have enough to pay rent that month. To the second it's the difference between whether or not they put a down payment on their second home.

Spivak 4y ago
No disagreement, but that fact doesn't make a proportional tax regressive.
- naveen99 4y ago
  In a binary world, there is regressive and progressive only. Regressive = not progressive (enough). For people that can do math, just follow market response.