Oh, you beat me to it! If the government can wave a magic wand and give everyone the lifestyle they want, why stop at high wages? All these people who have trouble making it through college, just ask them what degree they want and give it to them! Want to be a doctor? Here's your diploma from med school! Then we won't have to worry any more about discrimination and self-esteem problems. Besides, this would solve the doctor shortage, right?
Really, I should be put in charge of the Department of Magic. I'd be very popular until reality hit the fan.