This is not materially different from Bernie Sanders muttering that he could fund over $50 trillion in new spending by looting the billionaires.
Looking beyond the hilariously deficient math skills on display in this clip, the notion of "giving" everyone a million dollars is absurd even if the Evil Rich actually COULD afford to do it. If everyone suddenly had $1M, the economy would crash.
You can look at what happened after Democrats nationalized student loans for an example. The system was suddenly awash with money. Profiteering schools jacked up their prices to soak up the cash. The sea of money was drained with astounding speed.
If everyone was suddenly "given" $1M, the big story the following year would be everyone's astonishment at how quickly the money disappeared without making the standard of living all that much better. It would probably get worse, and now the $1M would be gone.
Not to mention that everyone wouldn't GET $1M from this absurd giveaway program, once overhead and corruption were factored in. You've got to distribute the money somehow. Let Democrat-style Big Government do it, and you'd be lucky to actually receive 10% of your million.
The day after some hypothetical super-gazillionaire finished handing out bundles of cash, left-wing politicians would attack like a swarm of piranha, frantically trying to grab the money for their political machines and "redistribute" it from the people who don't truly "need" it.
No lefty would want to admit this, but the process of redistributing all that money from billionaires to everyone else would greatly diminish the value of the money. Assets would be liquidated to create cash payouts. The cash would not be used as productively as the assets were.
Not that anyone on the Left is interested in, or capable of, learning the lesson, but the Obama years pretty conclusively proved that gimmick handouts don't stimulate the economy. Everyone would suffer in the long run as money was shifted to less productive ends.
The killing joke, of course, would be that within a few years most of the money would get back to the people and entities that originally controlled it, but along the way, the economy and regular working people would suffer. It would be like economic chemotherapy.
The thing about money is that it becomes vastly more valuable when it is EARNED. That's why handout gimmicks and "guaranteed minimum income" schemes don't work. The process of earning money creates value, and that value is by definition greater than the value of the cash.
You don't get paid $1,000 unless your employer thinks your labor is worth more than $1,000 to him. (And the cost of employing you is FAR higher than the money you get paid, which the government then takes a hefty chunk of.) The quest to earn money is healthy for all involved.
If you just hand everyone $1M, their sense of the value of money would be destroyed. Few would understand the value of dollars GIVEN as well as they understood the value of dollars EARNED. They wouldn't have generated any value to earn the money.
This can be very bad news for individuals, but it's utterly ruinous for society as a whole. The process of earning money is one of the ways we use our combined - cooperative AND competitive - intelligence to find opportunities and allocate resources. It's why we are prosperous.
Dumping a fat wad of cash on every single person would be like numbing our economic nervous system with a drug overdose. It would send us into a coma. Why would anyone work hard, sell goods at competitive prices, or take risks in pursuit of profit if everyone is suddenly "rich?"
As mentioned, it would wear off as the Magic Million Bucks vanished faster than anyone believed possible, but we'd get into a lot of trouble during the brief delirium where "everyone's a millionaire!" and the hangover would be a nightmare that lasted for years. /end
