If the Fed instead decided to hire poor citizens to dig ditches and build roads at a flat rate of $12/hour, the effect would be obvious to everyone - "they're d

If the Fed instead decided to hire poor citizens to dig ditches and build roads at a flat rate of $12/hour, the effect would be obvious to everyone - "they're distorting the minimum wage labor market! driving honest Walmarts out of business! businesses won't be able to find anyone for $7.25/hour, they'll have to pay more!" Every right-wing commenter in the world would immediately see that this is wealth redistributing socialism and needs to be stopped instantly. It's the same if you decide to pay rich people for their bonds. Only, you know, it helps rich people instead. You bought a million dollars of bonds last year, this year you can sell them for $1.1 million. The profit goes straight into the pockets of... people who can afford to buy a million dollars of bonds.