Basic income creates concentrated inflation
Paul Boyce 19[Paul Boyce, a Business Economics graduate from the University of Greenwich. He currently works as a consultant in financial services and is the founder and editor at Boycewire.com, "Universal Basic Income Is a Pandora’s Box",5-5-2019, No Publication, https://fee.org/articles/universal-basic-income-is-a-pandora-s-box/?gclid=CjwKCAjw-
A UBI would essentially transfer wealth away from higher earners toward low earners. This spurs higher consumption because those with lower incomes have a higher propensity to consume. On a macro basis, this may not necessarily create any inflation, as there is no new money entering the economy. However, it will create inflation on a micro basis. Rather than money going toward investment, it is going toward consumer goods. Instead of inflation occurring through a wide variety of areas, it is being concentrated.