Question

Which economic policy of the 1920s resulted in lower taxes?

Answer 1

The economic policy of the 1920s that resulted in lower taxes was primarily associated with the administration of President Calvin Coolidge, who served from 1923 to 1929. His policies were influenced by Secretary of the Treasury Andrew Mellon, who advocated for tax cuts and reductions in government spending. The Mellon Tax Cuts, particularly the Revenue Acts of 1924 and 1926, significantly lowered income tax rates for individuals and corporations. These tax reductions aimed to encourage investment, stimulate economic growth, and increase consumer spending, which were hallmarks of the "Roaring Twenties."