Wouldn't it be great... People would no longer need to work two jobs to survive, heck some might just stop working altogether - which is great, as it creates an undersaturated job market where employees have way better footing to negotiate.

The only people this doesn't benefit are the uber-wealthy who rely on people needing to work in order to bleed them dry - and for that reason alone, it may very well never come to fruition. Bloody shame ain't it.