[jaibot]

Good points, especially the varying cost-of-living associated with medical conditions. The obvious gets-us-most-of-the-way-there solution is to have those costs covered by a generous healthcare system as a separate matter from guaranteed income.

Living in SF is a good, like a car or a degree. All of those things help you get a job, but it should be up to you which of those you choose to invest in. Throwing in cost-of-living adjustments is equivalent to a guaranteed income except that the government requires you to spend $X on housing - it's strictly worse for everyone.