My proposal: have the Fed fund a basic income at zero cost to taxpayers. The Fed could structure it under Section 13 (13) of the Federal Reserve Act, as loans to individuals with negative interest. Thus, people would be paid to borrow.
Inflation is how taxpayers would pay for this "zero cost" proposal and it wouldn't be zero cost in reality.
Indexation of all incomes to price rises eliminates any potential inflation tax.
My take is that it would just create elevated inflation, perhaps even hyperinflation - where the money in question has no use as a store of value.
Now the Fed should apply that power of creating unlimited liquidity
The Fed doesn't have that power.