Supply-Side Theory of

What is it? essentially, the opposite of . ● in the hands of the people rather than the government ● Free- ● Lower Taxes because: ○ -Siders believe that the stimulated economy will still create revenue for the government through taxes from individual spending as well as corporate taxes from spending. ● To repeat, This theory is all about keeping money in the hands of the people. This way, employment increases, earnings increase, and people put money back into the economy through and . Another term for this type of “free-market” economy that has been around since the 1600s is Laissez-Faire Which means, as put best by the Beatles, “Let it Be” Ideologies of Supply-Side Economics

Conservatives favor supply-side economics with limits on the government and the lower taxes. As of late, the Republican Congress passed the Tax Cuts and Jobs Act that was promoted by President Trump in 2017, which permanently lowered taxes for and temporarily for the individual as well as overhauling the tax code.

Democrats oppose supply-side economics as shown with their opposition to the Tax Cuts and Jobs Act, which received no votes from Democrats. Libertarian View Libertarians also dislike supply-side economics. Libertarians actually favor fewer regulations from the government on the economy. Libertarians believe that the government should only protect and voluntary and let the work on its own principles. Libertarians want to “let it be” even further.

As a recap:

Conservatives- Support

Democrats- Oppose

Libertarians- Oppose Laffer Curve