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How about recovering the ill-gotten currency/assets from the 1%, (insider trading, corrupt enterprises and narco trafficking??) and channeling into the UBI.

ill gotten gains by your definition.
every time in history that the "1%" has been alienated...the country looses.
best to come to some sort of accommodation with them

Interesting idea. What sort of accommodation comes to mind?

not killing the goose that lays the golden egg perhaps?