The market doesn't capture and represent all value created by labor. When I call a tow truck to jump start my car, that transaction is captured by the market, but when I call my friend with cables to do the same thing, it is not represented in the GDP. The same thing goes for a lot of "work" that is not done for compensation but adds a great deal of value to community. Basic income recognizes this fact that merely existing as part of a community you are providing some basic value even if you're not paid for that work. I think the critics are right that there are potential cultural problems around entitlement and an unwillingness to contribute in any form, but I'm more optimistic about human nature.
The EITC and a basic income are actually very similar in effect. The difference is largely in the mechanism of distribution. With a basic income, every citizen gets a check every month. With an EITC you get it in a lump with your tax refund, if you qualify for it.
Yeah, I got a red light ticket there. My court date got postponed to more than a year after the original infraction. The cops like to pick off cyclists along the north side of Flushing because cyclists will (quite rationally) run those lights -- there is no crossing auto traffic (bike lanes run along the top of T intersections) and very low volume (and easy to see) pedestrian traffic. Sucks.