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You raise far more tax revenue able to redistribute as freedom dividends by incentivizing those who can earn $1m/hour to put in more hours.
You're missing the point, the objective of that is not to collect more tax, objective is to desincentivise greed by making it kinda pointless beyond certain level.
Also once most of the basic stuff is free I wonder how many people will settle for less pay and less hours. So more jobs would be available.