Supply-side economics: This term refers to an economic theory embraced by Reagan that suggests reducing tax rates can lead to increased economic growth because it encourages investment and entrepreneurship.
Trickle-down economics: This concept is related to supply-side economics and argues that when wealthier individuals receive tax cuts or benefits, those benefits will eventually "trickle down" to benefit all levels of society.
Neoconservatism: A political philosophy associated with the Reagan era that emphasizes assertive foreign policy, including military intervention if necessary, in order to promote democracy and protect American interests abroad.