Outside of inflation, there wold be a very small effect where some poor people would be able to get out of poverty, but other people might actually descend deeper into poverty.
To explain, lets look at the situation where everyone is given $4.33 million. To make it simple to understand, I will enlist Charlie Sheen, myself and Elon Musk.
Charlie Sheen takes the $4.33 million and spends it on hookers and blow. The money is gone and he has only satisfied his short term urges.
I take the money, put myself and children through school and make relatively conservative investments which I can understand and am comfortable with. I become mildly more productive and much more creditworthy.
Elon Musk takes the money, and in a few months shows up on Mars with his new spaceship (or dies trying). He creates immense new wealth through his productivity.
The reality is most poor people are not poor because they are morally deficient, but because they have short time horizons and only work to fulfill their immediate needs. This is due to a combination of poor impulse control and generally poor life skills (and little formal education is designed to help people understand this. Do you remember any courses in school designed to help you improve your life skills?). Giving these people money might not result in massive Charlie Sheen sized melt downs, but for a person with poor impulse control, giving them a big chunk of "free" money will simply result in more spending. Instead of a beater, they will buy an expensive car, but fail to do periodic maintenance. You can think of other examples.
Most "middle class" people are not less skilled or smart than Elon Musk, but rather are risk adverse, so giving them money will help to a certain extent, but the effect will be swamped by the fact that everyone is getting a similar bonus (the middle of the bell curve will not move, but everyone inside that range will still be middle class with more money). IF productivity and creditworthiness isn't rising at the same or greater rate than the increase in money, then inflation will still result.
If people with the correct combination of skills, knowledge and risk management and tolerance are being given extra funding, then the situation is reversed. A horde of Elon Musks producing new goods and services will be creating new wealth. They become much richer (of course), but we all benefit from this as well. Consider that virtually everyone in Western economies has enough to eat, clothing to wear and shelter, and even notionally poor people in the US have TV's, access to the Internet and cars today, without any income levelling or massive redistribution schemes on the scale being discussed here.