What does supply-side economics primarily advocate?

Supply-side economics primarily advocates for lowering taxes and decreasing regulations. The fundamental belief of this economic theory is that reducing tax rates, particularly for businesses and high-income earners, incentivizes investment, increases production, and boosts overall economic growth. By allowing individuals and corporations to retain more of their earnings, supply-side economics posits that they will invest in their businesses, create jobs, and drive innovation.

Decreased regulations are also a key aspect, as proponents argue that excessive regulation can stifle economic growth and entrepreneurship. By streamlining or relying less on regulatory frameworks, supply-side economics seeks to foster a more favorable business environment that encourages economic expansion. This approach contrasts with other economic theories that might focus on demand-side strategies, like increasing government spending for social programs or enhancing public ownership, which typically emphasize boosting consumer demand to stimulate the economy.