Yes, that is the econometric definition of revenue neutral tax changes. Of course most any change in tax structures will affect individuals, but that is nearly irrelevant (unless you never want a change to tax law).

> while wealthy people saw their rate drop dramatically

Have you looked up this claim with actual historical effective tax rate numbers? It's simply not true.

Here's [1] CBO total effective tax rates across many income level, from 1979 to 2005. Look at Table 1, then Total Effective Rate (which is what each group actually paid). Take, for example, Reagan tax cut of 1986, and pick a window around it, saw 1984 to 1987. Top 0.01 effective rate increased from 31.8 to 33.9. Lowest quintile rate decreased from 10.2 to 8.7.

In fact, for the 1986 cut, the lowest 4 quintiles saw a slight tax decrease, the top quintile saw a tax increase.

Next, look through the individual income tax rates - again, the same. After the Reagan tax cut in 1986, the top 0.01% saw an increase in effective rates - higher than any from 1979 (start of the dataset) through 87.

Here too you see the bottom 80% ending up with lower tax rates across the board.

I don't know where you got the idea rates dropped dramatically. It's not in this data.

[1] https://www.cbo.gov/sites/default/files/110th-congress-2007-...