The fact that it is a progressive tax does not negate the fact that it shifts tax burden away from high-income earners and onto low-income earners. That's the issue most opponents of it have.
I think this is mostly true. It shifts burden away from high income earners onto low income earners. They claim then that the prebate for low income earners makes it progressive, which is true to some extent, but then that prebate phases out, which means that it's the middle class that winds up really getting squeezed, while the top ~1-5% of the population wins out hugely.