No, because this very probably wouldn't increase average happiness: 1. The 1% would be less happy. 2. Lot of the 99% would feel guilty (which lowers happiness)

No, because this very probably wouldn't increase average happiness: 1. The 1% would be less happy. 2. Lot of the 99% would feel guilty (which lowers happiness). 3. The 1% would probably be less productive than if they were free. So the only benefit for the 99% would be that they consume less. By the way, this system to a certain extent exist in our society (cheap labour in China for example).