How is padding-top as a percentage related to the parent's width?

From CSS fluid layout: margin-top based on percentage grows when container width increases :

In CSS, all four margin: and padding: percentages are relative to the width ...even though that may seem nonsensical. That's just the way the CSS spec is, there's nothing you can do about it.

Straight from the horse's mouth:

'padding-top', 'padding-right', 'padding-bottom', 'padding-left'
Value:      <padding-width> | inherit
Initial:    0
Applies to:     all elements except table-row-group, table-header-group, table-footer-group, table-row, table-column-group and table-column
Inherited:      no
Percentages:    refer to width of containing block
Media:      visual
Computed value:     the percentage as specified or the absolute length

Percentages: refer to width of containing block