What if we decided all resources and land were co-owned by Americans. If it is the ground or comes out of the ground. Land/oil specifically and minerals. Mining

What if we decided all resources and land were co-owned by Americans. If it is the ground or comes out of the ground. Land/oil specifically and minerals. Mining companies would still make bulk profit but there'd be taxes that are paid out in UBI. All land for skyscrapers, office buildings, etc -- all land would be taxed at a specific value, and that would also go into UBI. Then we could also have a VAT instead of income taxes so all Americans are also tax payers but UBI puts everyone above poverty so no biggie if we all pay tax on our purchases.