The percentage of taxes paid by the top 1% now exceeds the percentage paid by the bottom 95%. This increase in progressiveness happened under  George Bush. The top 1% are made of 1.4 million taxpayers and pay 40.4% of all taxes, and the bottom 95% consist of 134 million taxpayers and pay 39.4% of all taxes down from 58% twenty years ago.

Reference here.

It is important to note that any tax policy that hurts the ability of those those top 1% to produce income will have a dramatic effect on tax revenues.