The economic policy of the 1920s that resulted in lower taxes was primarily associated with the administration of President Calvin Coolidge and his Secretary of the Treasury, Andrew Mellon. This policy emphasized tax reductions and fiscal conservatism, aiming to stimulate economic growth by reducing the tax burden on individuals and businesses.
The Revenue Acts of the 1920s, particularly those of 1921, 1924, and 1926, were instrumental in lowering income tax rates and inheritance taxes. These acts significantly lowered the top marginal tax rates for individuals and reduced corporate taxes as well. The idea behind these tax cuts was to increase investment, encourage spending, and ultimately foster economic expansion, which was a key characteristic of the "Roaring Twenties."