It isn't really wealth transfer, this will be paid for in new government debt rather than a tax on the rich. Effectively, the federal government has created a

It isn't really wealth transfer, this will be paid for in new government debt rather than a tax on the rich. Effectively, the federal government has created a rug akin to Hermione Granger's purse. Whenever they want to spend money but can't increase taxes or decrease spending elsewhere, they sweep it under the infinitely big rug. No wealth transfer, just debt creation on federal books rather than consumer books.