Huh? The bulk of your local taxes probably funds public schools. As for federal taxes, the bulk is social security, followed by defense, Medicare & Medicaid, and various unemployment benefits.

It can be argued that we should be spending less on defense, but the trade-offs there are very different from what you're describing.

The government also does a fair number of indirect subsidies by making some people or businesses pay less tax, but it's generally not the "top 1%". If you're in the top 1% of earners in California, your total effective tax burden is likely 50% or so.