Taylor Swift still wears a lot of make-up (have you seen her without make-up? Big difference) but hers is always pretty and natural looking. But if by natural you mean she wears less make-up, I don't think so. She has to be wearing a lot though. I thought Katy Perry was insanely pretty till I also saw a picture of her without make-up that was posted on twitter. I was like WTF! haha
They would both cake on the makeup. katy perry does it more obviously though, because that is the look she is going for, whereas taylor swifts makeup is meant to look more natural, so she doesn't wear as much on the eyes and lips. But they both have teams of makeup artists applying makeup for them so they are good at making it look like they aren't wearing much.