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Not sure I understand were you're coming from. I'm sure you can find more complex arguments either way but as I understand it the basic effect of printing money is devaluing that existing money - a tax on anyone holding the currency.

Wouldn't the rich be the ones holding a disproportionate amount of cash?

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Yes, the rich certainly do hold a disproportionate amount of cash, but they don't just stick it all in a simple savings account (often the only option for the poor). The rich put their money to work (in money markets, the stock market, property and investments abroad as the article mentions, etc.) so that it earns a return. And they often buy items before the effects of inflation set in.

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