Once people have a basic standard of living guaranteed this will free them up to pursue there dreams and goals independent of financial pressures

This idea that money is the only thing that will motivate people is absolutely unproven

Bit of a contradiction there

If you really look at the numbers income inequality shows that there is more than enough money in the system to provide a basic standard of living to everyone.

Yes, it's called people who work vs people who don't work. The whole basis of work is that everyone contributes to the common good of society by working together for a common goal. I can't do my job if the garbage guy doesn't take my trash away, he can't do his job if the water guy never gets him the water he drinks everyday, ect. in an ongoing loop. But now these lower-level jobs that are essential but often overlooked don't appeal to anyone anymore, I mean I could get paid slightly less to do whatever I want, instead of helping others do what the world needs them to do; how are you going to get someone to do the dirty, unloved and underappreciated job of taking out the trash when they could do yoga and watch Netflix all day for nearly the same pay?

The only answer to that is to either raise the benefits of the job or lower the benefits of not having a job, which is the opposite of why you made base income in the first place; now base income is making jobs pay more and the people on base income have less because the people working have a large pay-gap than before; or people get paid less income which goes against the reasoning behind the idea of basic income in the first place.