Uh... not really.
You're assuming there would be no deterrent value. There'd probably be a surge at first, but once word got out...
But hey, there's another easy way to get people off welfare--IMPROVE ECONOMY AND EDUCATION, so we don't have so many poor.
Of course, you'll find the same people here bitching about welfare being the same people who think that's socialism, so they literally have no solutions, just complaints.