There's a link below showing the middle class has shrunk from 62% to 42% since 1970, , but the good news is that the upper income class has grown from 29% to 50%. Basically a good part of the middle class has become the upper income class.
As for taxes, revenue tends to go up whether taxes are raised or decreased. But Trump even proposed taxing wealthier people to pay for some of the tax cuts for the poorer folk. Plus there are a lot of economic growth incentives included in the "big, beautiful bill" which should help generate revenue. And of course there are the tariffs.
https://www.pewresearch.org/short-r...e-class-has-changed-in-the-past-five-decades/
60% of Americans today can't even afford groceries.
It was not like that before Reagan.
Conversely, the top 10% of Americans control approximately 60% of all U.S. wealth,
according to USA Today. The bottom half holds only 6%. This figure of the wealth of the top 10% represents a substantial increase from 56% in 1989, and only 50% in the late 1970s, when the middle class was at the height of its prosperity- right before the Reagan era. GOP and Trump policies are only continuing to add fuel to that fire now with their insistence on now-debunked "trickle down" economic policies. The GOP is is not the party of the middle class, as they have been, and continue to be, its destroyers.
This is not a good, desirable, stable, or sustainable path. Increasing disparities of wealth and poverty are harmful because they undermine social cohesion, erode democratic institutions, and limit equal opportunity. When wealth is increasingly concentrated in the hands of a few, political and economic power become imbalanced, leading to policies that further entrench inequality. Meanwhile, those in poverty face reduced access to education, healthcare, and stable employment, perpetuating cycles of disadvantage and loss of social mobility. This is exacerbated when the resulting poverty and failure is then blamed on the poor being victimized by this process, because they are told they are that way only because they are just stupid and lazy. Such disparities also fuel resentment, social unrest, and a decline in trust, making societies less stable, less just, less capable of addressing shared challenges, and more prone to divisive, fascistic, and extremist ideologies like Trumpism. It becomes a dangerous vicious cycle.