[redisman]

The US government is very capable of handing out $1200 checks to everyone as we have seen. It is also extremely popular with the people. I mean I guess the only impediment is courageous politicians but that might be a large obstacle.

I wonder if they gave out the $1200 checks every year and funded it by taxing the top brackets, that would cause a large surge in consumer spending (mostly on essentials but also on luxury goods as you go up the income bracket).

[mdorazio]

I think you inadvertently pointed out the whole problem. The US government will hand out checks in emergencies, funded by debt, but won't actually increase taxes on top brackets in a meaningful way. So you end up with wealth redistribution being a non-starter.