This statment is not significant, "The top 1 percent of income earners in 2005, those earning $364,657 or more, paid over 39 percent of all federal income taxes." The question is how much of the total national income did the top one percent earn? If they earned more than 39 percent of the total national income, then they were undertaxed. If they earned less than 39 percent of the total national income, then they were overtaxed.