Who Pays More Income Taxes: The Top 1% or the Bottom 95%?

I've blogged about this before, but here is some updated data from the IRS, via the Tax Foundation, on the topic: Tax Burden of Top 1% Now Exceeds That of Bottom 95%. Not only is that now true about income taxes, but it has been trending this way for some time: from 1987 to 2007, the bottom 95% share's of total income taxes has fallen from 58% to 39.4%, while the share of total income taxes paid by the top 1% has risen from 24.8% to 40.4%. What this means is that the top 1.4 million taxpayers pay a larger share of the income tax burden than all of the bottom 134 million taxpayers combined.