I don't think it's that everyone has more money, just that if you are earning >$33k the govt pays you that, so minimum wage would be around that for a full time Job I'd imagine. Or if you're working, say 12hrs a week the govt gives you money to make up to $33k. Also people would still pay taxes and such.
And it wouldn't be everyone having more money, but it would mean people on benefits wouldn't get trapped in the poverty cycle. This would also be invaluable to people with long term illnesses or caring for people as most current benefits do not come even close to that.