A lot of top 1% ers are wage earners who have not benefitted from the run up in Fed-fueled equity markets. Why should I have to continue paying a marginal rate of 39.6%???
Tax cuts should go to those who pay the taxes... and in my view a more equitable tax cut on the earned income side would be a flat percentage rate cut... such as cutting taxes paid on earned income by, say, 10% for everyone... mine would then drop from 39.6% to 35.64%... still a very hefty tax rate...
If you are a wage earner in the top bracket, then why havent you dumped the max into a 401K. $18000 a year is a pretty good start. Also, if you own your own company there are some neat tricks to lower your taxable W-2 income.