Which 1% of the population are you counting as doing useful work? From how I see it - those doing useful work right now are compensated far far less than those doing well paid but useless work
or a different model, if 1% need to work 40 years to sustain us, then 10% can do the same while working only 4 years, or everyone only works one year. (ok, it doesn't scale like that because it takes more time to get experience for certain tasks, but even then, with such an abundance of available labor, every worker can spend half of their work time to teach others about their work)
all it takes is an understanding that the best thing to do with those not needed for work is to educate them to do something else that is useful for us.