This misses that if there's a net benefit to asset backed debt, then the wealthy will gain from that the most. As in my example above, gaining 1% net benefit o

This misses that if there's a net benefit to asset backed debt, then the wealthy will gain from that the most. As in my example above, gaining 1% net benefit on a $250k house can never compare to billionaires gaining 1% on their levels of asset backed debt. Then there's fractional reserve banking which benefit banks via interest on money that otherwise didn't exist. And as of just over a year ago, there's no fraction of the fractional reserve left. The fed lowered the reserve requirement to 0% https://www.federalreserve.gov/newsevents/pressreleases/monetary20200315b.htm https://www.federalreserve.gov/newsevents/pressreleases/mone...