This is not a basic income plan. It is a basic vote buying plan.
It will ‘buy’ votes, but here’s the curious thing....it requires a ton of money (meaning additional taxes). So it will create a mini-recession in just the first year. As jobs slow down and tax revenue decreases....more people require it, and the tax situation has to escalate.
I would suggest that about four years into this...it’ll flip up a civil conflict where taxation and basic income only equal physical violence (a revolutionary conflict).