This is stale discussion already, but going by that logic, why would you sacrifice the majority mom and pop (average person who also lives paycheck to paycheck) for the minority poor? For example right now in NYC, most people find it really hard to buy their first home (not everyone is SWE in FAANG). It isn't like they have spare money to buy bigger toys. Once they worked hard for that why take that away?
I'm not saying not help the poor. We should treat our most vulnerable people, but economically I think it doesn't work out. The poor will always be there, the sick will always be there, the unemployed will always be there no matter what. Even if you help them, they will always be there.