Originally Posted by Zelda_fan
actually it affects the rich a whole lot more.
Say $1 = 1 pound (it's not but let's just pretend for this illustration). Suppose tomorrow, the value of the dollar drops so that $2 = 1 pound. That's a 50% loss. Now what would you rather lose? 50% of a million dollars (rich people) or 50% of $10,000 (poor people)?
That is stupid logic...
What would you rather have
$500,000 or $5,000?
It affects poor people more as they live on the bread line i.e. Poor people rarely have expendable income. So any loss of money is money that cannot afford to lose even if it is a smaller figure.