Frankly, it'd be a lot cheaper over time. To administrate a citizen's dividend, all you need is a dozen or so geeks, a small server farm, and lots and loads of EFTs. It could actually be reasonably efficient since large amounts of efforts at means testing (i.e., are you good enough at gaming the system) would not be necessary. Administrative overhead would be negligible, and there'd be no such thing as a welfare cliff.
A citizen's dividend would also give society the ability to transition into two radically different possible futures without apocalyptic disruption.
Future 1: Technological singularity, most people are rendered zero or negative marginal product workers by advancing robotics and AI.
Future 2: The end of cheap energy forces a massive economic contraction forcing the end of lots of make work and demanding a radical simplification of rules and structures.
Honestly I think the probability of Future 1 or Future 2 is pretty high, probably well over 50%.