It's usually not stated so explicitly, but often implied by people who advocate for expansive entitlement programs. When pressed on how to pay for such programs, "tax the rich" is often their only answer.
Because money is a circuit, tax is a percentage and money doesn’t stop at its first use.
The velocity of money is about as good a high-level measure of where the balance between “Wall Street and Main Street” lies as you’ll find - and there’s not much juice left to wring out from your typical American when a typical dollar is spent 1.2 times before it winds up accumulating interest in a billionaire’s bank account all over again (and that’s with the Federal government spending at unforeseen levels running an all time high and increasing deficit).
And nobody knows what that is.
Anybody decomposing GDP into "MV" first needs to explain what M is, and they can't.