Some people say that this would give people an incentive not to work, I say it would put more power in the hands of people over corporations. Not only that, we are rapidly approaching an era where robots will become the largest part of the workforce.
Most people would work to have more than subsistence living. They might work fewer hours though which actually means more jobs to be had.
The combination of rising automation and the wish for a more streamlined way to reduce the burden and cost of various forms of welfare may mean this is closer to reality then people may think. I think it is a way to give people options. Most would continue to work and use the money to improve on that, open a small business etc.