All I have to do is look at my sister (and others I know, but I know her best). She's a deadbeat and a thief, and no matter how much dough she can scam from people, it's never enough and she always goes back for more. How anybody can believe the thirst for cash by a deadbeat can be sated is beyond me.
No matter how much cash you throw at a grifter, they'll always be poor and pathetic. As dead broke as the Clintons when they left the White House. Factor in the amazing level of inflation just attempting to create a guaranteed minimum income, and the entire economy would go down the tubes in a matter of months, if not weeks.
The concept ignores the real value of money. Why does it exist? To parcel out scarcity. A GMI ignores the existence of it. Free everything for everybody! Stupidest damned thing I've ever heard of.