[bsanr2]

That's a false premise. One of the intended effects of UBI is to universalize the kind of stability of cash flow that the wealthy tend to benefit from under Capitalism. This effectively shifts the balance of both economic and political leverage. In the same way that universal healthcare is less expensive than a balkanized insurance system because the people who want lower prices suddenly have a larger say in the marketplace, UBI would lower the amount of capital wealthy individuals and entities have to put towards assets, and raise the amount that, collectively, a much larger number of UBI recipients have.

Under these conditions, it makes a lot less sense to, say, build luxury housing units that are bid up and up by the demand of wealthy investors, compared to seeing that that demand has now been broken up and distributed among lower income would-be buyers and renters and realizing that a lot of money could be made expanding the housing base.

It's all about who has the money. Asset prices will fall as wealth is diffused among people who don't stockpile capital, making the amount of income necessary to survive lower.

Taxation is a cornerstone of making UBI work. Of course it has a higher chance of failure if it's predicated on grabbing money out of thin air.