It's even the 'smaller' stuff that will be horrible.

Even if you're lucky to be wealthy you'd be living in a city with fewer restaurants, bakeries, shops, anything. Because once a lot of people don't have income they won't be able to go out and buy things and shops will go out of business.

It will also lead to a lot lot LOT LOT LOT more crime. I don't see the semi-wealthy to have an enjoyable life.