We don’t have to go farther back than 100 years in history to know what this looks like. Poll taxes, land ownership requirements, etc. were pretty common. So were goon squads to beat and murder people who tried to change that. It wasn’t good.
If you want to get rich, you need an healthy, educated, rich and secure customer and employee base. You don't get that with <~2% of GDP spent on health, education, roads, police, courts et cetera.