The dollar has lost @ 90% of its value since we went off the Gold Standard in 1971. It now takes two heads of a houshold to support a family vs. one. The wealth gap between rich & poor grows larger every day. Every dollar one makes today is worth less tommorrow.
If we eliminated all social/welfare agencies/programs, each US citizen who is over 18 & who doesn't receive a federally funded pension, could receive a Universal Basic Income (UBI) @ $20,000+ per year, regardless if they have a job or not. This is how much money is wasted through government racketeering right now through social/welfare agencies/programs. People could then use their UBI money in the free market on basic needs like: food, housing, health insurance & education. The minimum wage could also be eliminated with a UBI. As technology advances & more jobs become automated, a UBI will be needed.
A UBI wouldn't stop the wealth inequality gap - it would accelerate it. At least, that would be true in the current environment, but that could be changed if other reforms are implemented first.