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I'm not sure this program would be better than what we have now but I would be interested in looking at the math of it. We currently spend about $1T a year in welfare and this would cost about $3.6T. So $2.6T more.
Of course, there would be some other areas we would save.
1. EVERY dollar of income earned by EVERYONE (excluding the stipend) would be taxed.
2. We would save on the operating costs of maintaining a welfare system.
3. With no minimum wage companies would probably earn a bigger profit, thus paying more in taxes.
4. Lots of businesses would move their operations to the US, meaning more tax revenue.
5. The homeless problem would be all but eliminated, increasing tourist revenue.
6. Crime would go down.
7. People would spend more money, which is good for the economy.
On the flip side, though, I am sure inflation would increase.
So I don't know. It might make up for that $2.6T difference and it might not. I don't think it will result in most people not working. $18,000 is enough to survive on but not to enjoy the nicer things in life. And people want the nicer things.
It would make it easier for people currently dependent on government largess to go to work. As it is currently, they'd lose more than they would gain. Were there to be a small basic living allowance, as suggested in the OP, then any income, even a part time minimum wage job, would improve the standard of living of the worker over the idler. Once the person entered the work force, then there is a chance of getting off of government subsidies altogether.