American Experience from 1920’s through the 1970’s: Chapter 2) (“The Commanding Heights” – Chapter 14) (“Economics” – Chapter 16) (“Economics” – Chapter 7, pages 117–122) (“Economics” – Very strong economic performance during (i.e., the 1920’s the “Roaring Twenties”): Low unemployment; inflation near 0% throughout decade; tremendous increases in per capita GDP Trend toward “modernization” and “urbanization”: rapid increase in households with electricity, radio ownership, automobile ownership Partly fueled by the Mellon-Coolidge-Harding tax cuts of the of 1921, 1924, & 1926 1920’s: Revenue Acts Andrew Mellon, Secretary of the Treasury of the U.S. from 3/1921 to 2/1932 Warren Harding, President from 3/1921 to 8/1923 Calvin Coolidge, President from 8/1923 to 3/1929 Year : Highest MTR: Lowest MTR: 1917 67% 2% 1918 77% 6% 1919–1921 73% 4% 1922–1923 58% 4% 1924 46% 2% 1925–1931 25% 1.5% Tax revenues increased from $700 million in 1921 to over $1 billion in 1928 and 1929 in office, unemployment During Pres. Coolidge’s time averaged 3.3% and inflation averaged 1% => lowest Misery Index of any 20th Century President
American Experience from 1920’s through the 1970’s: (“The Commanding Heights” – Chapter 2) (“Economics” – Chapter 14) (“Economics” – Chapter 16) (“Economics” – Chapter 7, pages 117–122) Very strong economic performance during the 1920’s (i.e., the “Roaring Twenties”): Low unemployment; inflation near 0% throughout decade; tremendous increases in per capita GDP Trend toward “modernization” and “urbanization”: rapid increase in households with electricity, radio ownership, automobile ownership Partly fueled by the Mellon-Coolidge-Harding tax cuts of the 1920’s: Revenue Acts of 1921, 1924, & 1926 Andrew Mellon, Secretary of the Treasury of the U.S. from 3/1921 to 2/1932 Warren Harding, President from 3/1921 to 8/1923 Calvin Coolidge, President from 8/1923 to 3/1929 Year : Highest MTR: Lowest MTR: 1917 67% 2% 1918 77% 6% 1919–1921 73% 4% 1922–1923 58% 4% 1924 46% 2% 1925–1931 25% 1.5% Tax revenues increased from $700 million in 1921 to over $1 billion in 1928 and 1929 During Pres. Coolidge’s time in office, unemployment averaged 3.3% and inflation averaged 1% => lowest Misery Index of any 20th Century President
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