Theoretically sure it could help. Realistically we know governments, who are largely controlled by the wealthy, will immediately start dumping money around when

Theoretically sure it could help. Realistically we know governments, who are largely controlled by the wealthy, will immediately start dumping money around when stock markets dip and doing everything possible to insulate the investor class from losing everything. But if something only hurts the lower classes, they will usually ignore it as much as possible.