The discussion of "meaningful" is a separate discussion.

I only state that it cannot "evaporate" and it must be spent somewhere in the economy. What is "meaningful" to you might be totally "unreasonable" to me. But, it's irrelevant. The bottom line is that the folks above $250K don't bring home quite as much and, therefore cannot spend quite as much.

But, for the economy, the result is a net zero change.