This is the basic flaw that everyone seems to be missing. Cost of living will just rise to meet the increase in demand resulting in no one except private landowners being any better off. Henry George identified the solution over 100 years ago. Basic income requires something like the Henry George land-value tax to be successful. At the same time, a land-value tax would also be the best way to raise funds for a universal basic income.
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This is the basic flaw that everyone seems to be missing. Cost of living will just rise to meet the increase in demand resulting in no one except private landowners being any better off. Henry George identified the solution over 100 years ago. Basic income requires something like the Henry George land-value tax to be successful. At the same time, a land-value tax would also be the best way to raise funds for a universal basic income.
I had not heard of Henry James and his book "Progress & Poverty" (1879). More info for anyone interested [0]
[0]: https://en.wikipedia.org/wiki/Progress_and_Poverty