This is what would happen:
1. Prices would go up to compensate for the income.
2. Scams would spring up to swindle the less bright amoung us out of their new-found windfall.
3. Programs for the poor would still be there.
In the end, everyone would be worse off—especially the taxpayer.
Well not quite. There would be a vast new array of bureaucrats (permanent, no doubt, like TSA) to implement the scheme. And certain specially connected persons will have raked in prodigious fees for designing and implementing the scheme, cf., e.g., ObamaCare.
Don’t forget the scams to swindle the folks paying out the “basic income.”
And, of course, that ‘basic income’ has to go up each year.