You guys are both missing his point. See where he says, "For the people who are rich, then they face inflation but that's not a bad thing - they'll be encouraged to spend it."
This means his idea of "equal distribution" is the same amount for each individual. Not according to how much money you already hold. So, inflation comes, everyone gets $100.
Well if that is actually what OP suggested then that is a stupid idea because it's socialism and we all know socialism doesn't work.
Actually, it is wealth redistribution through the guise of inflation.