This is a bad idea as it will raise the prices on everything else in the country as compensation

This is because the value of work is determined by what the people believe it is, and not what the government wants it to be. Additionally, the prices will go up in order to still create a profit. Moreover, the way to increase the quality of life for the poor is to create a better economy overall, which is not done by this, as it will lower the confidence in the currency and devalue it, which is bad for the economy