Democracy takes precedence

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Democracy

Democracy takes precedence over many concepts. By that I mean that one does not need anything but democracy as an ideal to justify these concepts. Progressive taxes are justified by the need to preserve democracy, for instance: if you don't enforce progressive taxation you risk corruption and people accumulating power that is in competition with people's right to vote. States raising funds on financial markets is also a threat to democracy: while market pundits will argue markets are democratic, in practice you are signing yourself up for oligarchy: 50% of the US' sovereign debt is owned by 1% of the population. And people who loan money to the State are more likely to be heard than others.