Why should personal debt contracts be legal but not equity contracts? Equity contracts are actually more progressive - you don't have to pay if you're not maki

Why should personal debt contracts be legal but not equity contracts? Equity contracts are actually more progressive - you don't have to pay if you're not making anything, and those who strike it rich cover the costs of those who make less. I actually think we should fund the education system through personal student equity (rather than taxes and student loans). If a school fails to teach students to read, it will lose out when the kids cannot earn as much later in life.