Earlier quoted context omitted.
Several of the UBI pilot studies included new venture creation (including solo self-employment, not just classic business creation) as part of their measurements. The last few I looked at had zero difference in new business creation between recipients and control group. A lot of the UBI trials have actually had disappointing results. The arguments usually claim that it’s not a valid test because it wasn’t guaranteed…
I actually did the math for US once, calculating how much more tax it would take to give everyone minimum wage. The resulting tax rate would certainly be fairly high, but not excessively so; several European countries have higher brackets today, and their economy doesn't collapse. But also, are you accounting for all the means-tested welfare that such a program would replace ?
Multiply the US population by the poverty level annual income ($15.6K) and the resulting number is higher than all US federal tax revenue combined. In other words, tax rates would have to more than double across the board.
Subtracting out existing social programs barely moves the needle. Are you sure you did the math, or were you just assuming?