I do not buy the argument that lower income earners spend more of there money by percentage and save less equates to a regressive tax. I think that this is a bit of twist of logic or spin. Just because some save more than others does not amount to a regressive tax.
I understand your base concern, and I think it is valid.
I agree that we need support for lower earners. That is the place for the public dole, in my opinion ( and all the policy initiative spin offs related). The bottom should be supported.
I don’t think that investment is the same thing as gambling…although the banking industry is certainly stretching my understanding.
