[fluffy0000]

No - the top 1% of wage earners are not responsible for more than 50% of taxes collected in the US .

Begining with the Pres. Reagan administration a barrage of 'supply side' radical tax cuts delivered huge amounts of wealth upon the top 1%.

One of Reagan's wunderkind, Office of Management and Budget David Stockman, confided to a Washington Post reporter (William Greider) that Reagan's tax cut was really a “trojan horse” for cutting taxes on the rich.

as explained by Naomi Klein in her book The Shock Doctrine:
"..,radical policy shifts must occur when the public is disoriented and confused."
In 1981 Reagan signed the “Kemp-Roth” tax bill about a week after he had taken the radical step of firing 11,000 striking federal air traffic controllers.

Wall Street Capitalism: A Theory of the Bondholding Class, economist E. Ray Canterbery explains what happened.
The tax cuts drastically increased the incomes of the rich and they used their newfound money from the tax cuts to buy the Treasury bonds, notes, and bills that the Treasury Department had to issue in order to finance Reagan's deficits.

The combination of monetarism (high interest rates), supply-side tax cuts, and the phantom Soviet threat created the bondholding class.
.., taxes on the rich were cut and they were handed an “investment opportunity”.

Treasury, State, and Municipal bonds are highly concentrated among the rich. In the 2007 Survey of Consumer Finances, the Top 5 percent (ranked by net worth) held about 93.6 per cent of all bonds (this does not include the savings bonds that the working and middle classes are familiar with).

Likewise, the Top 5 percent owned 82.4 per cent of all stocks.
The bondholding class oscillates between bonds and stocks as market conditions dictate.

( Housing bubble )
..,sustaining financial asset inflation to increase the enrichment of the bond and stock holders. Net interest payments on Treasury securities are welfare payments to the top Wall Street firms and their shareholders.

The fact, who got the largest welfare check ever written was not lost on the rest of us mere mortals as the top 5% cashed in bigtime.

The Emergency Economic Stabilization Act of 2008 , enacted October 3, 2008), commonly referred to as a bailout of the U.S. financial system.