“Privileged families will always seek to extend their own advantages to their children, but restoring greater progressivity to the tax system would ensure that wealthy families still contribute to the opportunities of others. Another intervention would be to eliminate or reduce the tax deductibility of contributions to private schools and colleges, except if directly used for scholarships for disadvantaged youth.
One elegant solution would be to tax wealth to broaden opportunity. Revenue from a steeply progressive estate or inheritance tax could capitalize an “education-opportunity trust fund” to provide debt-free college educations for first-generation college students.
Wealthy families concerned about declining social mobility should use their special privileges to stop the advantage arms race. They should match any family subsidies with tax dollars and donations to organizations that promote mobility. Without such interventions, the U.S. will further drift toward being a caste society, where opportunity, occupation, and social status are based on inherited advantage, fractured along class lines.”
A thorny issue. Imagine a modern society within which genetic modification can buy enhanced health, strength, intelligence, resistance to disease, etc. We talk of the increasing wealth gap but we are faced with literally a gap in human ability as gene research and therapy comes to the market place. Will we return to a system akin to the caste levels of the Middle Ages? Who will be your Lord?