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Society cannot afford to give soldiers adequate monetary compensation for what they do.
Why not? Not everyone in the military puts his/her life at risk more than a randomly chosen civilian. Many jobs in the military are nearly identical to those in the civilian sector. I am reminded of cooks, trumpet players, satellite technicians, intelligence analysts, nuclear physicists.
Therefore they are rewarded by having a special status in the public mind and sometimes an extra-special status if they can prove to have been extra brave by winning the aforementioned tokens.
A common argument for glorifying soldiers is their courage, as though non-soldiers don't have any. We shouldn't forget that soldiers don't have a monopoly on courage.
They are glorified for shooting at people who haven't threatened us, enforcing arbitrary curfews in foreign countries, regulating foreign markets (i.e. drug trade), crushing inconvenient governments, and in isolated cases engaging in torture.
With the disparity in military technology, it's difficult to imagine there is much room for bravery, especially when invading poor countries.
Of course, this system is in place so that soldiers will fight for their country in extreme circumstances (armed conflict).
Ex soldiers I know, joined because:
-Couldn't get out of the draft due to criminal record, go to IDF combat unit.
-Can't afford one's own helicopter gunship, join air force.
-Enjoys outdoor activities, jeeps, guns and other man stuff, join commandos.
Two of the three joined because they liked a challenge.
One of those took a bullet whilst distributing aid in Iraq.
That's admirable (I am not being cynical), but out of the 3 million people in active duty or reserves, how many took a bullet while distributing aid, and of those, how many distributed aid out of altruism vs. strictly because they were ordered to?
In other words, I think some soldiers are more than deserving of special status, especially the ones who joined out of altruism and are conscientious about their impact. I just don't think it's accurate to assume that they are all altruistic and conscientious.