That's an interesting idea. One has to test things to see if they can be made to work.
I think the amount is something that can be disputed, but the underlying idea is, IMO, a sound one. Similar to the "unconditional basic income" idea - again, the amount can be contemplated, but the idea is sound, even more so as there are more and more superrich ignoring regular laws or buying legislation in a democracy. That means the old model simply does not work. Something has to change - which path to pick can be debated, but something has to be done.