FTP, identify this economic theory that formed the basis of "Reaganomics" and trickle-down economics.
The Economic Recovery Tax Act was a direct implementation of this economic theory. Initially, government revenues would be reduced by tax cuts, but supporters of this theory believed that the resulting growth would eventually increase taxable income, which, in turn, would cause government revenues to grow. This theory advocated this reduction in order to leave more money in the hands of citizens, who would spend the money on products and services and investments, boosting the economy. FTP, identify this economic theory that formed the basis of "Reaganomics" and trickle-down economics.
The Economic Recovery Tax Act was a direct implementation of this economic theory.
{supply-side} economics or theory (prompt on {Reaganomics} or {trickle-down} economics on early buzz)