Did you see the movie, "A Few Good Men" and the Marine private was on the stand being cross examined by the JAG prosecutor? He got caught in his little lie and then got confused and kept repeating the same thing trying to get out of the hole, but just kept getting deeper.
That's what your response reminds me of.
In that question, I have GRANTED you your premise and everything bad that can possibly happen and am having it all happen all at once to make the situation as bad as it can possibly be.
How much as a pay cut do I have to take to be at the point where I would actually be worse off. You are the boss. Start cutting.
Please don't repeat your projected objection. Just give me a number where a pay cut would hurt me. What number makes me NET worse off in my gross paycheck? And is it really a reason to be upset IF I still have the same NET purchasing power?
Theoretically, if everyone took a pay cut in the amount of taxes they paid, prices overall might stay the same. The problem then becomes many negotiated contracts like employment contracts, rents, and mortgages can not be changed, so theory is not possible. And the reality is some businesses and people will be better off under the new system ans aome will be much worse off,