Working individually, yes. But realistically this is more of an iterative prisoner's dilemma than a straight prisoner's dilemma. If the rich don't hold up their

Working individually, yes. But realistically this is more of an iterative prisoner's dilemma than a straight prisoner's dilemma. If the rich don't hold up their part of the social contract, the poor tend to eat them (eventually). So the rich are only incentivized to screw the system if they can get away with it. The problems start happening when we let them get away with it.