In the current system, yes. But at least we do away with one set of means testing. I would actually argue for a flat tax rate in the presence of a basic income.

In the current system, yes. But at least we do away with one set of means testing. I would actually argue for a flat tax rate in the presence of a basic income. As for "asset rich, cash poor, no income" there are plenty of ideas out there for capital or capital gains taxes.