I would rather live on the streets and sleep under a bench then be a piss bucket for you.
You need to get a better understanding of the whole then/than thing. You said that you would like to sleep under a bench and then be a piss bucket.
I think what you meant is that you would rather sleep under a bench than be a piss bucket.
The way you wrote it you want to do both, first sleep then be a piss bucket. What I assume you meant is that you would rather do the first than to have the second happen.
It does make a difference. Hope this helps.