This paper proposes to orient contemporary debates over universal basic income (UBI) to broader social theory in the Marxist and Marxist-feminist traditions. Drawing on theories of labor decommodification, market socialism, and social reproduction, as well as more public-facing debates over policy, the purpose of this analysis is to better clarify the stakes a burgeoning left politics might have in pursuing the demand for UBI. Following key justifications put forward by chief proponents of the Wages for Housework movement for pursuing seemingly impractical, impossible, and politically ambiguous demands, I argue that UBI is best treated as a political perspective with both reactionary and revolutionary undercurrents. Urging caution, not dismissal, I refute more conventional economic analysis leading to common refrains against UBI, and suggest possible ways to bend UBI toward more explicitly socialist aims.