While I am an advocate of Modern Monetary Theory, I'm not a fan of UBI. It has not been attempted on any scale that would be predictive of its universal application, but there are other events in our history that would suggest that it may have implications beyond the initial funding of everyone's basic needs.

First of all, it would effectively freeze wages, contrary to what its advocates claim. I would present, as proof of this, the stagnation of almost all wages since women re-entered the workforce in large numbers after remaining in the home for the decades between WWII ending and the late '60s. A second income in the home initially elevated the economic status of the family and provided many luxuries that would have been unaffordable otherwise.

Good luck now to the family that doesn't either have two (or more) income streams or that didn't manage to make it into the top 10% of earners with their one income. Many couples in the '60s-'70s took turns working while the other finished their education, which contributed both to much more rapid GDP growth and the cost of tuitions. The second income in the household did what the GI bill did for returning veterans in the '40s and '50s, but with considerably more inflationary pressures.

I'm not saying that women shouldn't have went to work or pursued their education. I'm simply pointing out one of the ramification of that in an economy driven by demand and that is resource constrained, even if it isn't revenue constrained. I am also definitely not saying we shouldn't assure that everyone has their basic needs met, only that sometimes money isn't the best answer available, especially when it is distributed universally.

All it would take to place everyone back under the boot of their employer would be for a Republican Congress to decouple employers from healthcare before we achieved a single payer system. Suddenly, that $24K UBI got cut in half by the necessity to find one's own health insurance. The supply side would definitely win in that instance. If the UBI is tied to the inflation rate such an occurrence, or many similar, would drive prices up faster than Congress could pull the drain plug (taxation) and would quickly become cyclical.