increase in money supply helps people who are using debt to leverage into assets. Most large companies do this to some extent, and the upper middle class and r

increase in money supply helps people who are using debt to leverage into assets. Most large companies do this to some extent, and the upper middle class and rich people are heavily invested into equities. People who are not levered into assets are worse off after an increase in money supply. Deficit spending necessitates increasing M2, and in turn is a wealth transfer from the poor and middle class to the rich.