
According to the most recent tax data from the IRS through 2006 (available here from the Tax Foundation):
The top 1% of taxpayers earned $1.79 trillion (22.06% of the total) in 2006 and paid $408.4 billion in taxes (about 40% of the total). The bottom 95% of taxpayers earned $5.14 trillion (63.34% of the total) and paid $408.1 billion taxes (about 40% of the total).
In other words, the top 1% of U.S. taxpayers paid slightly more in federal income taxes ($408.4 billion) in 2006 than the entire bottom 95% of taxpayers paid ($408.1 billion), see top chart above.
Moreover, the tax burden on the top 1% has increased over time, while the tax burden on the bottom 95% has decreased (see bottom chart above). For example, in 1980 the top 1% paid only 19% of total federal income taxes paid, while the bottom 95% paid more than 63%. Over the last 25 years, the tax burden on the top 1% increased from 19% to 40%, while the tax share of the bottom 95% has decreased from 63% to 40%.
In 2002, before most of the "tax cuts" went into effect, the share of income taxes paid by the top 1% was below 34%, and by 2006 that share increased to almost 40%. If we assessed tax policies by the share of income taxes paid by "the rich" (i.e. top 1%), the "Jobs and Growth Tax Relief Reconciliation Act of 2003" wasn't a tax cut, it was a tax increase, since it increased the tax burden on the top 1% to record levels (40%), and resulted in more tax revenue from the top 1% than the entire bottom 95% of taxpayers!
To be fair, it's also true that the share of adjusted gross income earned by the top 1% has increased over time, while the share of income earned by the bottom 95% has decreased (see chart below), although the income share of the top 1% has been fairly stable at around 20% for the last ten years.
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