The Math of the One Percent

This came from the 1 September 2011 airing of The Last Word with Lawrence O’Donnell:

In 1992 the top one percent of income earners made $1.7 billion and were taxed at a rate of 29 percent.

In 2008 those same folks earned $9.1 billion but were taxed at a lower rate of 21 percent.

This came from a business show or online finance article (can't remember which):

The federal government has increased spending year over year at a rate of 7 percent.

Based on the numbers above, over the course of sixteen years, does the government need to increase the amount of money it takes in from the One Percenters?

(No need to account for inflation since the 7 percent figure accounts for both growth and inflation)