The majority of people have wealth in real estate and generate income from wages, both of which are inflation neutral.

In contrast, the rich are much more likely to have bonds or cash holdings. They are the ones for whom inflation is a real problem. Why else would all this political pressure for a 2% inflation target exist? It's because that's low enough for the rich, not because it's high.

Printing money and redistributing it would severely impact capital holders, like it did in the post WWII boom which created the middle class.

Here is an entire book on this topic :

https://en.m.wikipedia.org/wiki/Capital_in_the_Twenty-First_...