there is also another externality, due to perception (regardless of whether it is true) that it affects non rich people more means that it build distrust. trust

there is also another externality, due to perception (regardless of whether it is true) that it affects non rich people more means that it build distrust. trust (and in particular systemic trust, e.g. rule of law) reduces transaction costs; i.e. you can rely on others to do their job properly without having to continually monitor them and build in unnecessary contingencies.