What is the concept of supply-side economics?

Supply-side economics is an economic theory that suggests that reducing taxes and regulations on businesses and individuals will lead to an increase in production, investment, and overall economic growth. Proponents argue that when businesses and consumers are taxed less, they have more money to invest in the economy, which in turn creates jobs, raises productivity, and increases the supply of goods and services. Supply-side economics often emphasizes policies such as tax cuts for corporations, deregulation, and incentives for savings and investments. Critics argue that supply-side policies disproportionately benefit the wealthy and can lead to higher income inequality.