Under Modern Monetary Theory, we have the money- we don't have to figure out "how to pay for it." Our money is already not "backed" -We are not on a gold standard with a fixed money supply.

I think we need to do a hybrid approach:

A) initiate a small level UBI -and-

B) create a federal Jobs guarantee.

Right now, the Federal Reserve is tasked to manage inflation AND manage unemployment. Targets typically are 2% for inflation and 4% unemployment. But those mandates are contradictory, typically, since squashing inflation can bring about unemployment.

Currently, the job market heats up, people spend, inflation grows, Fed pushes up interest rates and tightens the money supply, people get let go and laid off increasing unemployment and lowering consumer demand. It's an endless up and down cycle.

We should force the employment mandate onto Congress- create a jobs & income guarantee.

The benefits of this approach is that besides curbing poverty, it would smooth out the demand side of the economy. Smoothing out demand would also reduce the risk of inflation.

We should tax the wealthy regardless- we have developed an oligarchy- taxes are not just to "raise money"- taxes enforce egalitarianism and a sense of shared sacrifice and community for the good of the nation.