> Higher taxes for anyone earning over $100k

Not a failure. Society working as intended.

> [...] lower quality of life [...]

Agreed, that would be a failure, if it were to happen. How on earth could "giving people money" lead to a lower quality of life for them?

> Politicians and corporations earn billions in profits on UBI distribution fees

As opposed to the much higher fees accrued by the more-complex means-tested programs today?

Correct me if I'm wrong, but my understanding of the economy is that money is earned when someone creates value. Just "giving people money" without having the corresponding value be created increases demand for valuable things without increasing supply, leading to inflation and the costs of said things going up.