It would not be regressive overall. The corporate tax and basic income need to be considered together. You are combining a corporate tax that might be regressiv

It would not be regressive overall. The corporate tax and basic income need to be considered together. You are combining a corporate tax that might be regressive or flat, with a lump sum payment of equal magnitude. The net effect is most certainly progressive. Taxing corporations may not produce magic money, but it is certainly more efficient than taxing individuals. Look, for example, at the Canadian tax system which offers near full integration for corporate taxes. Corporate taxes be a way of capturing money up front and limiting tax avoidance. If we had a flat tax with basic income, one could scrap taxes on employment and just tax corporations by denying salary as a deduction. This would be equivalent to the standard approach of writing-off salary expenses and taxing individuals.