I guess we should define "stimulative." I was talking about it in a job-creation sense.

Yes, wealthy individuals will put the money into stocks, bonds, or bank accounts - not under the mattress. But public companies' market cap rising a bit has a much less direct effect on jobs than creation of demand for local goods and services. Putting extra cash in a bank account is even worse -- a much simpler way of getting banks to lend is to reduce the prime rate, not to increase the savings rate.