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I'm pretty much with you, I think. I'm open to it, but extremely skeptical.
There's really no guarantee that the baseline UBI would be a "living wage" and I think we'd just see a constant spiral of inflation and re-indexing. I feel like it would end up being nothing more than an "allowance" from the oligarchy. Table scraps that would be used as an easy excuse to cut the social safety net at every turn. ("Why do they need X on top of their UBI?" says the rich politician...)
We need a strong social safety net. We need to decouple human rights from employment. We need more worker ownership of businesses/coops. We need to have the ability for people to do meaningful and productive things with their lives. We need a 32 hr standard work week.
I don't see how UBI gets us any of those things.