BI is just a huge subsidy for employers. Competition in the labour market will absolutely crush salaries if everyone gets a basic income irrespective of whether employed or not.<p>Now given that income taxes &gt; (or even &gt;&gt;) corporation and dividend taxes even if those reduced wages translate directly into increased corporate profits the net tax take by government will fall, whilst their liability goes up from BI obligations.<p>All BI will do is enrich the business elite and drive further inequality.<p>A semi test case of BI is being inadvertently conducted in the UK with tax credits. Thanks to effectively subsidised wages by the state, wages have remained stagnant or fallen. As wages have fallen more people qualify for tax credits, further subsidizing wages in a negative feedback loop. Net result: the cost to the state has ballooned to 30bn&#x2F;year from an originally projected 2bn&#x2F;year with over 50% of working households now in receipt of them, coupled with ever increasing equality gap.<p>Far from harmonising wealth and reducing inequality, basic income will have exactly the opposite effect.