Rich don't pay their Fair Share. Paul Krugman is Right. Listen to him
The story so far: Former President George W. Bush pushed through big tax cuts heavily tilted toward the highest incomes. As a result, taxes on the very rich are currently the lowest they’ve been in 80 years. President Obama proposes letting those high-end Bush tax cuts expire; Mr. Romney, on the other hand, proposes big further tax cuts for the wealthy.
All the detailed studies I know of go back only to 1960. I’ve written about Piketty-Saez; the 2010 Economic Report of the President (pdf) also provided estimates, not taking into account corporate taxes:
So I think it’s safe to say that taxes on the rich are currently lower than they have been for not 50 but 80 years. And if Mitt Romney gets his way, we’ll bring those taxes down to levels not seen since Calvin Coolidge.