[imtringued]

People expect free government subsidized insurance on their bank accounts though. The fact that this means wealthy people receive a higher subsidy does not bother them.

In fact, they will rally against it, even though say a -5% on their demand deposits is most likely going to be an insignificant amount of money, and if they want to earn money they should have gotten certificates of deposits so the bank doesn't have to take on the duration risk.