"You all just got a lot richer," Trump tells friends, referencing tax overhaul

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The president and White House have emphasized repeatedly that the tax legislation is targeted as a tax break for the middle class. And, according to the nonpartisan Tax Policy Center, 80 percent of Americans will pay less in taxes next year, and less than 5 percent will see their taxes go up less than $10. CBS News had a tax professional assess the taxes of three families, and found they will all go down under the new law.

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But critics point out that some aspects of the GOP tax overhaul -- such as the doubling of the cap for the estate tax break and lowering of corporate and S-corporation taxes -- disproportionately benefit the most affluent Americans. The president has said the tax bill is "not good" for him personally, although that statement is difficult to assess when he has declined to release his tax returns.