I like how these pretty neatly map to the three I gave for defending billionaires, even though they're worded very differently and probably thought of completely independently. We even ordered them the same way.

People who defend billionaires either have a vested interest, have actually bought that they’re 1000x smarter than normal people, or have some (possibly vague) abstract moral position that overrules the basic idea of fairness. Often it’s more than one.

I suppose the 1000x smarter thing isn't the only propaganda reason given, but I'd say meritocracy is by far more pronounced than inherent property rights or red-baiting in today's mainstream media. People who go with the latter two tend to learn it through personal connections.