While such socialistic policies sound great in theory, history, and data, they aren't the economic saviors they are touted to be.

What Is A Universal Basic Income (UBI)
To understand why the theory of universal basic income (UBI) is heavily flawed, we need to understand what UBI is.

"Basic income, also called universal basic income (UBI), is a public governmental program for a periodic payment delivered to all citizens of a given population without a means test or work requirement. Basic income can be implemented nationally, regionally, or locally, and is an unconditional income sufficient to meet a person's basic needs (i.e., at or above the poverty line)."

The idea of guaranteed income is not a new thing. According to Wikipedia:

"The concept of a state-run basic income dates back to the early 16th century when Sir Thomas More's "Utopia" depicted a society where every person receives a guaranteed income. 

In the late 18th century, English radical Thomas Spence, and American revolutionary Thomas Paine, declared their support for a welfare system that guaranteed an assured basic income. Nineteenth-century debate on basic income was limited, but during the early part of the 20th century, a basic income called a "state bonus" was widely discussed. 

In 1946, the United Kingdom implemented unconditional family allowances for every family's second and subsequent children. In the 1960s and 1970s, the United States and Canada conducted several experiments with negative income taxation, a related welfare system. From the 1980s and onward, the debate in Europe took off more broadly, and since then, it has expanded to many countries around the world. "

While the concept of a UBI sounds good in theory, do they work in reality?

Will UBI Won't Increase Economic Growth
"More money in people's pockets will lead to stronger economic growth." – J.M. Keynes

The underlying sentiment behind a universal basic income is that if the government provides a base income, it will lead to more robust economic growth. In 2020 and again in 2021, the U.S. Government implemented a limited form of UBI by sending $1400 checks to households. The result was unsurprising. While those checks did lead to strong economic growth, they also created a surge in inflation, essentially wiping out the stimulus's benefit.