> The system is self-adjusting. Because there is no guaranteed payment amount and it’s based just on the amount collected from the tax, then as people work less

> The system is self-adjusting. Because there is no guaranteed payment amount and it’s based just on the amount collected from the tax, then as people work less, the payment will be lower and people at the margin will more likely choose to work, pushing the tax revenue back up. Those people at the margins are going into minimum wage jobs, and contributing only ~10% of that minimum wage towards the budget, which gets redistributed to everyone. That's not going likely to push a below-subsistence income level very much at all, and in practice the causality is more likely to work the other way round (tax receipts drops in a recession along with employment opportunities; the benefit payouts decrease at the time people are most likely to need it). If the plan is in addition to welfare payments people depend upon to live on, that may be less of an issue. If it isn't, then some of the people that most need it are going to be worse off.