TW: Like clockwork this morning I see the conservative econ bloggers flagging the annual Tax Foundation report that shows wealthy folks paying lots of federal tax, their grave tones indicating they are purveying profound new information is so very cynical if utterly consistent: 
From Jim Pethokoukis:
"1) The top 1 percent of taxpayers paid 40.4 percent of the total income taxes collected by the federal government — the highest percentage in modern history — while the top 1 percent paid 24.8 percent of the income tax burden.
2) The share of the tax burden borne by the top 1 percent now exceeds the share paid by the bottom 95 percent of taxpayers combined. In 2007, the bottom 95 percent paid 39.4 percent of the income tax burden. This is down from the 58 percent of the total income tax burden they paid twenty years ago.
3) To put this in perspective, the top 1 percent is comprised of just 1.4 million taxpayers and they pay a larger share of the income tax burden now than the bottom 134 million taxpayers combined."
From Greg Mankiw:
"IRS data shows that in 2007—the most recent data available—the top 1 percent of taxpayers paid 40.4 percent of the total income taxes collected by the federal government. This is the highest percentage in modern history. By contrast, the top 1 percent paid 24.8 percent of the income tax burden in 1987, the year following the 1986 tax reform act. Remarkably, the share of the tax burden borne by the top 1 percent now exceeds the share paid by the bottom 95 percent of taxpayers combined."
"1) The top 1 percent of taxpayers paid 40.4 percent of the total income taxes collected by the federal government — the highest percentage in modern history — while the top 1 percent paid 24.8 percent of the income tax burden.
2) The share of the tax burden borne by the top 1 percent now exceeds the share paid by the bottom 95 percent of taxpayers combined. In 2007, the bottom 95 percent paid 39.4 percent of the income tax burden. This is down from the 58 percent of the total income tax burden they paid twenty years ago.
3) To put this in perspective, the top 1 percent is comprised of just 1.4 million taxpayers and they pay a larger share of the income tax burden now than the bottom 134 million taxpayers combined."
From Greg Mankiw:
"IRS data shows that in 2007—the most recent data available—the top 1 percent of taxpayers paid 40.4 percent of the total income taxes collected by the federal government. This is the highest percentage in modern history. By contrast, the top 1 percent paid 24.8 percent of the income tax burden in 1987, the year following the 1986 tax reform act. Remarkably, the share of the tax burden borne by the top 1 percent now exceeds the share paid by the bottom 95 percent of taxpayers combined."
TW: We have debunked this propaganda previously. It is not challenging. Conservatives throw out this meme to portray "woe is me" for wealthy taxpayers. But they NEVER complete the circle. They only show federal income tax so payroll taxes, state and local taxes, sales taxes which are paid far more proportionately by less wealthy folks are ignored. Most importantly they NEVER do the intellectually honest thing and show what % of the income those same wealthy folks have. The basic point- income is so concentrated now in the U.S. that the wealthy pay a % of the federal income tax because they possess a high % of the income, unless the federal taxes are set up to be regressive they will inherently pay a % of the federal income tax.
The graph at the top from Peth might as well be a graph of how income has pooled at the top to the detriment of the middle and lower classes. Here are some more relevant graphics:
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