No, holy crap we do not want to drop EE.
We want to keep it low, but we are going to be burning EE on cash crops over the next couple of turns. We want it explicitly to burn. Once we get something like 6 free cities set up, we're probably going to want a lot of it.
That's not how it works.
Let's just sit back and say 'we have perfect EE refund' for now.
The thread has a stat, I forget what it's called, that isn't tracked on the front page. I think it's LTE? It is the total of our Economy and Econ Expansion.
If LTE is less than our cap Econ Stat then we can not get to our cap econ stat without actions like Build Mills, Blacksoil, Expand Forests, and New Settlement (only one gains initial econ gains of any note and it costs wealth). Expand Economy works by converting EE straight into Econ. It is, as a result, LTE neutral. If we don't have EE then it just can't do that.
Our current LTE is 27 (Econ) + 7 (Econ Expansion). You're plan decreases that by 9, meaning that we can only get to 25 econ. This means no overflow. That is, very, very bad because overflowing econ into wealth is incredibly easy for us to do.
Do not treat EE as if it's free.