It is going to be category 5 hurricane bad.

[haele]

2. It's going to ruin small businesses and grocery stores ..

One would think the "Investor Class" would have enough economic understanding about how the multiplicity of Money works with businesses, services, and real estate.
Governer Walz pointed out that the spending of $1.00 of SNAP results in $1.80 of local revenue. What he doesn't do is continue the progress; every $1.80 of local revenue attracts another $0.50 of outside investment because of more money available to be spent locally (the market is expanding), which in turn adds to the state tax base, which extending to an additional $0.50 that can be invested in local - infrastructure...
And wait, there's more! The less money a potential corporate or business needs to put into their operational infrastructure because of that $1.00 SNAP spent, the more likely they will be attracted to build in that location, creating more jobs and services, reducing the need for that $1.00 in SNAP within 3 to 5 years.

Unless, of course, the desired outcome is for a zero-sum Plantation economy - and those really aren't viable because inherited ownership economic models rarely remains disciplined enough not to become irresponsible and frivolously wasteful. Plantation economies require an ingrained sense of noblesse oblige and a lot of expenditures by the owners to ensure the compliance of a slave or indentured workforce that is required for a Plantation economy to be successful.