The problem with taking money from the rich and giving it to the poor is that you undermine riches' motivation. If you limit the prize, then you also limit amount of effort that one is willing to make to get it.

Therefore, after UBI is introduced on mass scale we might see a slow but steady decline in economic activity: fewer new companies started, fewer investments made, riches focusing on tax evasion and moving their business abroad instead of just running and developing it, resulting in recession.

Of course you can go with nuclear option and forfeit all their properties at once, in the name of social justice (does that ring a bell?) but you can only do it once, and eventually will run out of the money seized this way.