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Because UBI is effectively a flat universal tax credit, it’s a tax rebate for both visible and invisible taxes, and as long as the UBI amount is larger than the amount of tax a particular person is paying, then that person experiences an increase in buying power, not a loss of buying power.

Now also consider Jeff Bezos with his $200 billion in untaxed wealth doing everything he can to avoid paying taxes. Can he avoid his $200 billion being effectively worth $190 billion as a result of 5% inflation? No. And if he gets an additional $24,000 in UBI does that in any way compensate him for what is effectively a wealth tax of $10 billion? No, it doesn’t. Let’s also consider that Bezos’ wealth grew from July 2020 to July 2021 by $23 billion, in which case his wealth still would have grown by the total wealth of 13 billionaires in this invisible wealth tax scenario.

It's also not true to say that inflation always even hits the poorest at all. If inflation is not generalized and instead experienced in certain sectors of the economy, like for example if gold watches were to double in price due to a gold watch shortage, then the only people impacted by those higher prices are those buying the gold watches, which aren't people in poverty.

So not only is a higher rate of inflation not an inevitable result of increasing the money supply, but as long as UBI is part of the equation where there is some amount of increased inflation, then the UBI also makes sure that the poor and middle class still end up better off, and that the invisible taxation only falls on those who are spending the most and have the most wealth. Because of this, there’s an argument to be made that no amount of inflation should ever be pursued without UBI operating as a kind of inflation rebate to protect those with no incomes, fixed incomes, or low incomes hardest hit by any increase in the costs of basic goods and services. And if we’re interested in taxing the rich in a way they can’t avoid, we may really want to look at inflation as an invisible wealth tax.