Supply-Side Economics

Supply-side economics is a theory held by conservatives, notably Ronald Reagan, that to better its economy and get more consumers, a nation should lower taxes and make budget cuts so consumers can more easily obtain products.

Origin
Opponents of Keynesian Economics developed supply-side economics to improve the economy. Followers of supply-side economics argue that lower taxes makes it more appealing to the working class and, of course, the greedy rich.

Reaganomics
Supply-side economics was used primarily during the Reagan administration. Critics point out that the result of supply-side economics fell short of their expectations - they don't go far enough. Supply-side economics utterly failed, while the income tax was lowered, other taxes were raised so they did nothing.