A UBI paid out of taxes on produced factors (income,capital) distorts resource allocation, so we all end up poorer.
Rents would go up, but then so would the LVT and then the UBI until an equilibrium point is reached.
In the US, without any other changes to your tax/welfare system the LVT/UBI would result in every man,woman and child getting around $4000 each. That would rise as rents went up.
That would go up even further if other taxes and benefits were reduced.
As I'm sure you've been thinking, it seems important because of the looming threat of human labor becoming an obsolete means for the satisfactory distribution of wealth and necessities throughout society.
Do you have any other thoughts about how to address this problem?
The argument for the LVT/BI is that it is not a benefit or a welfare payment, but should be view as a basic human property right. Without which, we are not free.
The LVT really only means we would all be equal share landlords of the value derived from scarce resources supplied for free by nature/god. Basic Income/Public spending is that equal share.
Without that, humans cannot share this Earth as equals, thus will not have taken the final step from being savages to truly civilized beings.
Yes, it really is that big a deal;)
In the version that I was thinking of, a land value tax would pay for the basic income. If the land value tax provided all of the funds for the basic income, then there would presumably be no excess for landlords to siphon off, except maybe as one region gained in popularity at the expense of another, etc.
The eventual goal would be to have all or almost all income from rents within a country be distributed to the citizenry. Land owners would also receive the income.