Tax cuts: A policy measure that lowers the amount of money individuals or businesses are required to pay in taxes, with the goal of stimulating economic growth.
Supply-side economics: An economic theory supported by Reagan which advocates for reducing taxes on businesses and wealthy individuals as a means of stimulating investment and economic growth.
Trickle-down economics: A term often used critically to describe supply-side economics, suggesting that benefits from tax cuts for the wealthy will eventually "trickle down" to benefit lower-income individuals.