It benefiots corps and people with capital, same could be said about slavery (which also reduce innovation in the South because capital just went into labor instead of dealing with less labor, Zero to One)

It isn't exactly slavery. Rather than a disposable permanent underclass of free labor it is a somewhat disposable somewhat immobile underclass of cheap labor (the dispoability is why it is cheap, lots of replacements)

It can be fixed by redistribution but

1) adding paternalism doesnt make it less like slavery

2) the rich will leave or find a way to not pay

3) I fear for any society which needs that level of forced generosity. Something is sick and it is unstable. Hope the EBT machines never go down