Tax the Wealthy to Promote Innovation

If the Republican agenda of supply-side economics-based tax cuts for the rich is misguided, so too is the Democratic agenda of using the tax code to boost middle class, after-tax incomes. Joe Kennedy argues in the Orlando Sentinel that instead of simply redistributing wealth, which will have limited impact on economic growth, higher taxes on the rich should be used to pay for lower corporate tax rates, enhanced funding for research, development and infrastructure and other programs that have a direct impact on economic and job growth.