The $1.1 trillion spent annually on pensions
What pensions? The Federal outlays for nonhealth welfare are under 400b.
The extra tax income from essentially removing the tax-free threshold through UBI (let’s call that $1300pp who earns over $12,000 / year — back of the envelope $200b a year)
I don’t follow. Anyone who earns only 12K a year is paying a negative income tax rate of about 10%.