Obviously everyone will manipulate their definition of "middle class" to support their side of the issue. If you've got medical problems you're f*cked no matter what class with this. If you live in a place with high property tax you're losing money no matter what class if you own a house. If you care about debt, $1.5 trillion is a bit of money regardless of class.
On the other hand, as a 1%er who owns my company I am estimating my taxes will go down by at least 30%,. Not marginal, this is the overall reduction in tax I have to pay when I take into account the elimination of AMT and the money I would save through changing my business structure to a pass-through and getting a 25% rate on 30% of my income. We're talking tens to hundreds of thousands of dollars less I and people like me are paying, while someone making under $86k saves a few hundred bucks at most!
I and people like me are the last people in the world who need this tax break, and even for purely selfish reasons would far rather that money from me and people like me went to potential customers in the middle class, or we just maintained this system that's giving us 4% unemployment and the largest economy in the world, and a 17 year low unemployment level without trying to "fix" it. And the most telling thing is that before this tax cut I put all the extra money my company made back into growing the company, which mainly consisted of hiring people, because that's what the tax structure incentivised me to do. Now I'm incentivised to pay more back to myself earlier, which I'm going to use to buy a better French sailboat. How does that incentive structure help the economy again?
That said, eliminating depreciation and allowing expensing is a spectacularly good idea if you want to incentivize investment. And although meaningless in the grand scheme I also like the fact that they made the joint filing numbers all twice the single filing numbers; making it slightly less by some completely arbitrary amount always bugged me.
