"With all due respect, I think you're really confusing two arguments here; that of wealth distribution and the concept of basic income."
With all due respect, you are only thinking about basic income at step 1. I laid out what will happen at step 10..which is essentially a wealth distribution system.
"You could set up a basic income system tomorrow in your country of choice and set the level of basic income and tax levels so that everyone, at least in the beginning, was receiving the same amount of cash they were before."
Where do you think the money comes from to support a basic income? Who do you think pays for it?
"One advantage of the idea is that the poor would be more likely to find work because the marginal reward is so much better"
How so? Many poor people will be content with not finding work and just living on basic income. Minimum wage will also need to be well above what they are getting from the government, further contributing to inflation.
"leading to more wealth overall and sharing out the tax burden more. At least in theory."
You are only looking at it from one very small part of it.
With all due respect, you are only thinking about basic income at step 1. I laid out what will happen at step 10..which is essentially a wealth distribution system.
"You could set up a basic income system tomorrow in your country of choice and set the level of basic income and tax levels so that everyone, at least in the beginning, was receiving the same amount of cash they were before."
Where do you think the money comes from to support a basic income? Who do you think pays for it?
"One advantage of the idea is that the poor would be more likely to find work because the marginal reward is so much better"
How so? Many poor people will be content with not finding work and just living on basic income. Minimum wage will also need to be well above what they are getting from the government, further contributing to inflation.
"leading to more wealth overall and sharing out the tax burden more. At least in theory."
You are only looking at it from one very small part of it.