Two things - why make a real physical thing instead of say, government buys 10 percent shares in company every year after 5 years of its existence. Company profits are flatly redistributed across all people (so sweden plan). Companies can optimize for profits all they like, they fuck workers too much - ubi backstops them. They innovate new company - they receive big ass payout during government buyout.
No taxes is a big unknown as well, non working population is between 50-60 percent, it’s not exactly clear that profits will pay both their existence and all medical care and all services. Moreover if the profit rate falls everything breaks at once. Flatly separated taxes are fine as well, you pay for medical care some percentage, you elect head honcho of medicine for a term