The welfare state is an ineffective and expensive system that hurts and targets the poor more than it helps. Universal basic income is a better alternative that could work.
The question becomes, then, where would the money for UBI come from? There are a myriad of reasons why UBI via taxes would be a bad idea. Instead, we should look to socially produced capital.
Companies rely on people to be successful, so a percentage of all shares of all companies should go into a public equity trust and the dividends should be distributed to every member of society equally.