Consider the following:
Wally’s plan seems like a decent one on the surface, but there are a number of potential issues with it. First, I would hope that he is setting up a company to do this, since otherwise he will be paying the stand-ins out of his after-tax earnings, and the stand-ins will also get taxed on the amounts that they receive. This is just inefficient, and Wally could do better if he could make a business out of this. (I say this because I can’t imagine that Wally’s payments to the stand-ins would be deductible from his personal income taxes.)
Second, if the people that Wally is hiring could reasonably act as stand-ins, why wouldn’t they just go and get the jobs themselves? I could argue that Wally’s value-add is that he is better at getting hired than the stand-ins…but that would require making the case to some degree that Wally makes a good first impression. In fairness, Wally does seem less creepy than the random dude above, so maybe he’s onto something…
Actually, what’s important to remember here is that job searches are costly in terms of time and effort, and, in a weird way, Wally is acting as a headhunter. He’s performing the job search tasks for the stand-ins and taking a cut off the top in return. In this way, he’s getting a smaller payout from more jobs as opposed to a larger payout from one job. (This is, in fact, a form of leverage.) Whether this will make him more money than his current job depends on how many stand-ins he has and what his cut is. In any case, Wally is somewhat misguided, but only because he seems to imply that his plan is going to result in an income stream without him having to do anything, when in reality he is making an up-front investment (finding jobs for the stand-ins) in return for an ongoing payout (having income while he sits on the couch and eats cheetos).
In case you’ve forgotten, there’s no such thing as a free lunch.