If an economy is propped up by personal debt, things can (and have) exploded, yes.
But when not fueled by personal debt, you generally want faster spending, so that potential productive capacity gets used instead of left sitting for lack of demand.
Taxes: You definitely want to reduce loopholes as much as possible, and a sufficiently generous basic income would reduce the need for a lot of tax breaks, yes.
It is observed, however, that the very wealthy spend proportionally less on goods and services; most of their income gets reinvested. Good for them, but it leads to a positive feedback loop.
But when not fueled by personal debt, you generally want faster spending, so that potential productive capacity gets used instead of left sitting for lack of demand.
Taxes: You definitely want to reduce loopholes as much as possible, and a sufficiently generous basic income would reduce the need for a lot of tax breaks, yes.
It is observed, however, that the very wealthy spend proportionally less on goods and services; most of their income gets reinvested. Good for them, but it leads to a positive feedback loop.