Today’s American elite have considerably greater wealth gaps than what I described for the system. There is roughly a 400% to 1,100% difference between a minimum wage worker and an executive, before considering things like stocks and options.

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Since there are absolute wealth caps and the rule is that only one income stream can be active, there is essentially a soft limit on accumulating benefits. People who earn enough benefits from work, are likely to retire or go on vacation - which leaves a vacuum for other people to fill up, who in turn earn enough benefits to move on, and repeat. The people with stockpiled benefits also create opportunities for new businesses to crop up, since they would need things to keep them busy - an ambition, touring to see the land, activities, and so forth. This creates jobs due to demand, thus creating new upper ranks that need to be filled.

Students earn money from learning, which means they can comfortably obtain the qualifications to obtain better paying ranks. Thus, there are many people who can enter the upper ranks. Due to universal services, people can wait for jobs without danger - and people who work, can leave jobs if the work conditions suck. So there is a lot more mobility for income seekers.

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While I very much doubt that the proposed Universal Living system to be an panacea, the important thing is to enact something considerably better than what we currently have. Perfection isn’t the goal, since that requires a lot more understanding of economics than humanity has learned up to this point.