Many politicians in Congress truly believe that raising personal income taxes on the wealthy from the current 39.5 percent to 70 percent would still grow the economy and generate more long-term revenues to the government for several years to come. Is this correct according to the Supply-Side economic theory

According to the supply-side hypothesis, the economy will grow as long as there is an increase in the supply of commodities.
The idea, sometimes known as supply-side fiscal policy, has been used by various American presidents in an effort to boost the economy.
Supply-side strategies broadly focus on elements that support an economy's capacity to produce additional products and services. Although some economists have campaigned for the supply-side idea, others have opposed it.
Critics contend that supply-side theory is inherently wrong (i.e., that supply cannot produce demand on its own), and empirical research has repeatedly demonstrated its limitations when used to inform policy (e.g., in the case of Kansas tax cuts that failed to generate growth).

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