Democracy and economic equality are incompatible. That's the message we should take from reports (assuming them to be true) that Tory promises to cut inheritance tax have won them support.
There are two mechanisms at work here. One is adaptive preference formation. People from rich homes grow up with high expectations: they expect to afford nice country houses and high school fees. And if they can't, they infer not that they are too stupid to earn big money, but that something is wrong with the system.
By contrast, people from poor homes grow up with low expectations. As long as they can pay the leccy bill and aren't being harrassed too much by the dibble, they are content.
The upshot of this is that there's clamour to cut inheritance tax, but no comparable clamour to cut income tax on the pow-paid.
The problem here isn't just one for democracy. It's also one for utilitarianism. If we understand this as the fulfilment of subjective desires, utilitarianism can give too much to the unsatisfied rich and too little to the quiescent poor.
The second mechanism is that the rich have, partly perhaps inadvertently, some clever hegemonic strategies. People who expect to inherit a £500,000 house claim - with the help of the MSM - to represent "middle England", whilst those in relative poverty are stigmatized as chavs and the underclass. The fact is though that the latter are vastly more numerous than the former.
The upshot is that politicians pander to active vocal minorities rather than the silent millions. So you can win votes by cutting inheritance tax and threatening to harass the unemployed.
This means the left has a problem. Democracy - at least in its current form - cannot promote equality.