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Ivahew [28]
3 years ago
9

Which secretary of the treasury during the 1920s pushed for lower taxes?

History
1 answer:
Serhud [2]3 years ago
7 0

Tax rates were slashed dramatically during the 1920s, dropping from over 70 percent to less than 25 percent. What happened? Personal income tax revenues increased substantially during the 1920s, despite the reduction in rates. Revenues rose from $719 million in 1921 to $1164 million in 1928, an increase of more than 61 percent.

Treasury Secretary Andrew Mellon

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The correct answer is B) it made the economy weaker.

<em>The effect that the use of credit had on the economy in the 1920s was that it made the economy weaker. </em>

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