You know? The driver of the economy is the consumer. As you note there are many losers in this plan, mostly upper middle class. That's where spending at the margins comes from. There will be some boost from lower income households who will benefit. Then there's the, imo, absurd distinction between pass through entities, which the administration calls "small business", and individuals who can't get in on the "samll business" tax break. Perhaps some stimulus. But if you look at Kansas which tried this four years ago, no jump in employment or revenue. A lot of tax avoidance. You'll see this in spades.
Correct. Consumer spending drives large portions of the economy. Under these tax increases, consumers will have less money to spend.