As the rich consume more and more, they are clearly not going to want to downgrade their own status.
It reminded me of something I have long said about the American economy: Money does not trickle down. Money evaporates upward. We have created an economy that concentrates a majority of the wealth in a very small upper region. That is where the money goes, and that is where the money stays, and once money goes there the chance of it ever leaving is very low. It's a roach motel up there. Dollars check in, but they don't check out.
This is not an opinion. It is a numeric fact easily observed by looking at public records of where the money is.
So, any attempt to put money into the middle or lower parts of the economy by starting it higher is pretty much doomed to failure, because it works against the flow design. It is hard enough to keep money in the lower or middle parts even if it starts there, because the current is so strong to take money out of there and move it upward. That is not going to change without changing the infrastructure of the economy and the nature of its currents.