But honestly I'm not sure this will be enough for people to spend on e.g. restaurants or activities or oh I don't know, children. I think this will imply a freezing or even stepping back on the Maslow pyramid, the majority of people consolidating in the middle.
What I'm mostly concerned about is not even economic, it's psychological. With nothing to do, people will not have purpose, and bored people are a gunpowder keg.