It won't work that way. Historically most westernised countries have required approx 30% of their populace to be poor, now it's even greater.

Why you ask?

This is how they get folks to do the jobs they need to keep the establishment going.
Now these slimy fucks are not about to change that, so in reality, jobs and wages therefore status will be as it has always been but they will reduce the population. Don't think they have to do this all in a short period, they will allow whatever time it takes to accomplish the transition smoothly and efficiently but remember they are in NO rush, they have never been.