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In that way, Mitchell said, “Financial literacy can be ‘crowded out’ by redistributive social security programs such as in the U.S.”

"This is an enormously redistributive tax plan from low- and middle-income families to the wealthiest Americans. It's basically taking money from 19 out of 20 Americans and giving it to that last 20th," he said, adding: "Because this whole thing brings in less revenue, that's gonna mean spending cuts down the line to programs people rely on" like Medicaid and Social Security.

The funny thing about U.S. voters, though, is that while they love the free market and limited government in the abstract, they also tend to like redistributive, socialist-ish policies in the particular.

The budget is clearly more redistributive in nature, she added, and while there’s not necessarily “more direct cash in the hands of people”, announcements such as salary credits to new employees and minor tax tweaks could improve disposable incomes.

At the same time, income inequality is consistently reduced in 1.5°-2°C mitigation pathways compared to the case of unabated climate change, due to a combination of redistributive policies and the avoided increase in inequality from climate damages.