So we're seriously discussing this as a viable option? Rather recognising that it's just pub-speak, intended for everyone to say, "yeah that's a great idea!" without meaning one word of it?
It isn't too different from statist communism though, the only thing veering from the path is an increase in pay related to age.
It also might sound a lot of money but the amounts will be subjective to what money is actually worth in that society. But if it does away with inheritance and snidey elites who have everything sewn up and recognises labour as the only true currency then I'm all for it, obviously.
But prefer anarchism.