It's the inflation feedback loop that I think most people don't understand.

Most people I've talked to about it understand that there will be taxes that "pay for" the distribution. But they haven't thought through to the next step.

What happens when everyone has 12,000 more dollars per year?

Prices will go up by 12,000!

Personally, I'd be fine with a neutral shift from the current welfare programs to a universal distribution system. But the numbers there are more like 2000-3000 per individual instead of 12000 per adult.