Would something different happen if a post were flagged for abuse instead of being flagged for excessive payout? If the result is the same, the distinction wouldn't serve a purpose. More importantly, your suggestion still puts the focus on flagging the post instead of the voter.
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In my scenario, yes. The two downvotes would be programmed to have a different effect. One only affecting payout, the other affecting payout+reputation as well.
I don't know if it's technically feasible - just asking.
(And yes, the intention of the proposal I'm making is to keep flagging the post instead of nullifying the voter - because as Dan has noted in his series of articles, people take it personally (for irrational reasons) when they are aimed at). In theory it shouldn't make a difference, yet it does.