In the 1920s, Secretary of the Treasury Andrew Mellon succeeded in cutting taxes on: a.corporate profits and personal incomes. b
.both eliminating half of the federal debt c.dramatically trimming the federal budget. d.eliminating half of the WWI debt.e.All these answers are correct.
After being appointed by the then US president, Warren G. Harding, T. Mellon was tasked with reducing the large federal debt accumulated as a result of World War I. Hence, in his bid to achieve the aim, he increased revenue by lowering tax rates so a s to boost the economic activity as well as increasing overall tax revenue by encouraging more people to actually pay their taxes.
His then successfully cut taxes across the board both corporate and personal income tax, which was finally enacted by Congress in the Revenue Acts of 1921, 1924, and 1926.
In turn, the top marginal tax rate fell from 73 percent in 1922 to 24 percent in 1929.
Andrew Mellon was a successful business man with interest in sectors ranging from aluminium, steel, coal and to oil. After the first World War, he was appointed as the Secretary of Treasury inorder to assist in the reduction of the federal debts as a result of the war.
Due to the fact that the economy of US was in turmoil, he had to cut taxes across all board inorder to encourage the recovery and growth of the economy and at the same time encouragment of more people to pay tax to the government.
This tax law which he enacted lead to the marginal tax of US to fall from 73% to 24% which on the long run proved effective on lowering the national debt.
Labour unions were created then to foster cooperative voice in getting their needs met. The early unions such as Knight labour union and then the Americans Federation of Union was an example. They cooperatively organised strikes that was crippling to the economic state of the country with the sole aim of increase in their wages and earnings. This occurred after undue deductions. They also organised dialogues and diplomatic relationships with the outside world. They also organised peaceful protests so as make the government hear their voices
Children may progress faster in a homeschool setting than in public school. Schooling at home may promote a closer familiar relationship – many parents find that they enjoy spending extra time with their kids in homeschool. Public school options in the area may not offer the preferred degree of educational quality
In logistic growth (an S-shaped curve), the population growth rate change as the population nears its carrying capacity by decreasing Population growth rate.
