I would worry that it won’t go quickly to 99.999% but instead would grind down different groups of people slowly enough that they’d be able to entrench their power: being a cop will be a growth job, people would be given state-sanctioned automation-resistant work like picking crops as a condition of receiving social benefits, the Republicans would more seriously dust off the previously-fringe proposals to restrict voting to property owners again, etc.

Setting people against each other is a time honored way for a small elite to control a large population.