@thor
I mean losing half of your income will not mean as much if the other half is sill way more than you need.
@mian i mean, it depends a bit on the kind of lifestyle a person is living and how much of that income has been "locked down" by stuff like mortgages, loans, rentals, etc.
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@thor
Wealthy people have a lot more financial freedom as they can invest — that allows them to diversify. For people who only make a living and maybe a little more, there is nothing to invest — that is why inflation hits them the most, all they have is in country's currency, even if they have money in the bank, the best they can do is trust some pension fund with that.
Same with avoiding taxes — wealthy people are way more financially flexible.
@mian
@thor
The difference isn't purely quantative — it's way more complex than that, that's why progressive scale is fair — but far from perfect of course.
@mian