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Of course if we give everyone $200 more rent will rise by $200 / land costs will rise by the mortgage repayments.

This is why we need land value tax.

I only have very basic understanding of LVT but I don't see how it is the magic variable that makes UBI make sense. Could you explain?

I don't advocate ubi, lvt is enough. That's why ubi is under consideration and lvt gets nothing. Lvt kicks rentiers square in the nuts. Pow.