No it doesn't. It doesn't account for standard deductions either, nor does it factor in the fact that those rich people pay the same % in taxes as a poor person, for that same bracket the poor person is in.

Take someone making 200k. They pay the same % on the first 'x' $ amount within that first bracket, as the person who lives on only the money they make in that bracket.

But then that person w/200k then pays the next bracket's % of tax ONLY for that money within that bracket.

The high %s shown are only paid on the money made from the beginning to the end of that bracket.

So, they still are paying the same % on the same income as others - it's just that their income falls into multiple brackets, so the AGI averages it as a total, though that is quite misleading.