Thank you for your insights. Although, I do not part with Hayek on the issue, generally speaking, I have become increasingly disillusioned with Andrew Yang. Yes, he is an insightful entrepreneur who makes a good case for UBI. However, I find myself increasingly distrustful of his proposals (particularly after he raised his hand in support of providing healthcare services to non-citizens who illegally enter this country). At this point, it seems that Yang and the other Democrats are merely trying to outdo each other in some ‘woke Olympics.’ It is the vague elements related to this issue that have led me toward re-thinking it. I had assumed that, because he is an entrepreneur, he would have greater common sense. He does when it comes to questioning the minimum wage and inevitability of automation when he spoke with Dave Rubin and Ben Shapiro. Perhaps a better UBI plan will be proposed by someone who holds similar values to those of Friedrich Hayek.
While I do favor eliminating income tax totally and would argue that, in an ideal world, there would be no minimum wage or UBI, I still have trouble getting there from a practical point of view. It is not that I think it is impossible, but we need a gradual approach and the first things to take aim at are government bureaucracies. If we can get rid of many of these agencies, I would happily tolerate UBI for a set amount of time as a replacement. If it is not a replacement, UBI would only add to the problem.