Responses to flame and toxicity. What would you do?

So, as a player who has had more than a few punishments due to a toxic nature, I have begun to think more before I type, as I don't want the amount of money and time put into this game to go to waste. However, in a heated game, where you're getting stomped, you may be a little tilted but try keep a positive mindset "Okay, maybe I outscale and we can bring this to late game?" Then, you see someone being extremely toxic to you. I know people say "Oh mute them and report them after the game!" But that's so easy to say when you're not the one in the competitive environment while you may also be on tilt from the current state of the game. So, is it right to respond to these people without fear of facing punishment? The obvious answer would of course be "No" but even the nicest player must've been on the verge of snapping at a player who is just being arrogant and obnoxious. Like I said, I've flamed in the past, and I'm not going to sit here and justify my actions, because that would be impossible. But simply, Would you see a punishment as right if someone instigated a toxic argument and you responded in the same way?