Perhaps this will prompt a substantial reorganization of society. Ideas like the http://en.wikipedia.org/wiki/Basic_income_guarantee might actually gain traction.

Marshall Brain's novel http://www.marshallbrain.com/manna1.htm is one recent exploration of similar ideas.

But personally I'm sceptical if this will actually happen in the near future. As long as we don't have "Strong-AI" there are many jobs only humans can do well and a lot of those jobs don't require extensive education (nanny, nursing home attendant, customer service etc.)