Jimmy P. at the DNC—I took another poll of 24 DNC delegates. I asked them "What should 'the rich' pay in income taxes." Here is what they told me:
Average: 25.6 percent
Me: Of course, 25.6 percent is actually lower than what the top rate is today. Barack Obama, by contrast, wants to raise it to 39.6 percent. None of the delegates said that the rate should be higher than 35 percent. That is exactly what the top rate is currently thanks to the Bush tax cuts of 2001 and 2003. And a fair number of people thought that income tax rates for wealthy Americans were actually lower than for middle class folks. I think they were confusing capital gains rates with income tax rates thanks to Warren Buffet saying he paid a lower tax rate than his secretary. A fair number of people also thought that as long as rich people paid more in total taxes, it didn't matter what the rates were. That's right, they like the idea of a flat tax. Fascinating stuff.