Individual changes in a negative direction are not bad, but the aggregate (Economics, by definition) is what drives the economy.
If there are to be “progressive” tax rates, they should be on a continuum. Reducing the # of steps and making the step difference larger is bad economics.
I disagree. People consider their net take home, not # of steps or if it’s higher than last and taxes for people at larger companies always estimate your tax and withhold that every week. Most people don’t even understand their taxes. When someone making 100k goes from 500 a chk withhold to 425, they just know their taxes went down