Interesting New Book to consider. Here is the money quote from the article:
If a class of society is able to opt out of that contract, if they will essentially enjoy the privileges of citizenship without any of the obligations of citizenship, then they are opting out of democracy. And if they are ruling the country, then that means that a democracy falls; that’s why it’s anti-democratic. Because the governments of these countries are unable to tax their wealth, they’re unable to essentially impose any obligations on them as citizens, and instead, they get to enjoy all the benefits
Source: ‘Moneyland’ Reveals How Oligarchs, Kleptocrats And Crooks Stash Fortunes : NPR