Because minimum wage increases inflate basic goods so much that raising minimum wage is pointless. For the exact same reasons minimum wage works, UBI works. Yo

Because minimum wage increases inflate basic goods so much that raising minimum wage is pointless. For the exact same reasons minimum wage works, UBI works. You raise the floor and things inflate less than the floor is raised. UBI has an added benefit to mitigate inflation in that long-term universal income becomes an exceedingly stable revenue source. There are thousands of retirement homes across the US that cost social security to live in - the business model is that the income is guaranteed, so the customer base and revenue is maximally reliable, so you can operate on razor margins because of hugely reduced uncertainty. In that same capacity there would emerge UBI living accommodations meant to provide the "basics" for the whole value of the UBI. Even when not everyone uses them, their existence will act as a price floor on basic necessities to prevent them from inflating out of control - for the basic necessities with market price competition. That wouldn't include land or medicine, which can inflate in perpetuity because they are noncompetitive markets that should be more stringently regulated and socialized.