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“There’s plenty of lofty rhetoric in defense of legacy preferences, such as the need to maintain the historical soul of the university through intergenerational binds. But that’s a disguise for the real, unstated reasons, which boil down to hardcore economics. Elite institutions have struck an implicit bargain with their alumni. That bargain essentially says, “You give us money, and we will move your kid to the front of the line.” The entire basis for creation of the charitable contribution in the U.S. tax code is that individual contributions to charities, including educational institutions, must not “enrich the giver.” In fact, the system of legacy admissions at elite schools is all about enriching the giver. With a wink and a nod, colleges and universities gladly accept the white envelop stuffed with alumni cash, in return for the promise of favoritism. The whole enterprise is brought to you by the generosity of ordinary American taxpayers, via tax breaks and subsidies. Their children are waiting patiently in the back of the line, buying into the myth that the system is fair and meritocratic, when in fact, the game is rigged, and the winners are pre-ordained.” - Peter Sachs
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