Don’t get me wrong, I think the recent tax reform act was ill conceived given its impact on the deficit and debt, but to criticize it as only a windfall for big business and the wealthy is misleading IMO.
New York Times 12-30-19 on tax reform and big business:
“… Corporate executives, major investors and the wealthiest Americans hailed the tax cuts as a once-in-a-generation boon not only to their own fortunes but also to the United States economy.
It’s the “and their shareholders” part that creates the impression that only a select group of Americans benefited. Shareholders of America’s largest corporations include everyone who has a pension, a 401k, 403b, 457, IRA, HSA, 529 or who invests in a brokerage account.
Retirement plans alone include 137 million working adults (including virtually all state and local government employees).