Thank you for a very serious analysis of this matter. I think some form of basic guaranteed income has been overdue since Milton Friedman brought up the Negative Income Tax in the Seventies. I like the idea of a guaranteed income for ALL, because that's the only way you can sell something like this politically to the hard pressed middle and working class. What might really help is combining this with a system of mentorship for children growing up in poor circumstances - having programs that teach young people to save early and manage their finances carefully.
Indeed I am wondering if FDR and the New Deal people didn't get it fundamentally backwards - maybe even more than social security for the elderly we need early investment in our young people, giving them a stake to get started in life. Anyway, thank you for a thought provoking article.