Recently someone suggested that if you divide Michael Bloomberg's advertising budget for his 2020 presidential campaign and give a bit to every American and that doing so would wipe out poverty because everyone would have a million dollars. Ignoring the fact that dividing \(500 million by 327 million people is closer to\)1.50 than a $1,000,000, could giving everyone a million dollars wipe out poverty in the U.S. or elsewhere?
If you put the money aside and paid yourself a $100K/year salary, less than a seasoned programmer, you would be out of money in 10 years. Ten years of having some money isn't so much an end to poverty as a delay.
You could double that 10 years by living on $50K/year. For me, there are two problems with that. Firstly, everyone I know out of their 20s would find it challenging to live on that little money. Secondly, I'm not particularly young any more but I still plan to live much more than 20 years!
So, while receiving a million dollars sounds like your problems will be over, it's certainly not going to mean that you can stop working for the rest of your life. Giving everyone in the country a million dollars isn't the answer to poverty at all.