Assuming the Bush tax cuts did expire, Romney's plan would deliver an average tax cut of almost $300,000 to households making more than $1 million, according to Gleckman. Taxpayers who make more than $1 million currently pay about 20% of all federal taxes, Gleckman said. Under Romney s plan, they d get more than 28% of the cuts. Those making $50,000 to $75,000 would have their taxes cut about $1,800..