My favorite recurring topic, this one is more palatable to me as it would only apply to those out of work and looking for further employment. But... There are 32mm working age people in the UK, Poverty for a family of 4 is 20,000 pounds so let's for simplicity sake say the working age amount is now 18mm... 18x20,000 is 360bn... but the UK system would be for the unemployed, somewhere around 7% but let's add the people who just lost their jobs... let's go liberal with it and say 10%... 3mm so we are still looking at nearly 60bn. Let's assume that you keep the housing benefit but lose the Unemployment and Personal social services and other benefits which combined are 37bn... so you would need to cover the additional 22Bn with new taxes or some other way. Of course, if you also take away the housing and family benefits this system would cost less.

I will admit in the UK this is way more feasible than in a country like the US with a lot more people. I still think it's not feasible in terms of how to tax it out... you can only squeeze the wealthy so much before they decide to be wealthy elsewhere...

Poverty Level: Child Poverty Action Group

Working Age in the UK: Office for National Statistics

Welfare Spending: Office for National Statistics

TL,DR: I'm just saying once again this is a great concept but one that is not feasible to a working budget, and that's just my opinion but the numbers look that way to me.