THE ROARING 20S 1920 1929
AMERICAN ECONOMY IN THE 1920S
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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increasing government spending
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improving welfare programs
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reducing taxes
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raising taxes on the wealthy
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Detailed explanation-1: -Coolidge and Mellon preferred to use the budget surplus to cut taxes, and they did not believe that the country could pass the Bonus Bill, cut taxes, and maintain a balanced budget.
Detailed explanation-2: -Elected in his own right in 1924, Coolidge gained a reputation as a small-government conservative distinguished by a taciturn personality and dry sense of humor, receiving the nickname “Silent Cal".
Detailed explanation-3: -Coolidge’s domestic legacy can generally be described as conservative. His main concern was to sustain the economic prosperity that was returning when he took office. He favored a light hand in regulating business, strove hard to balance the budget (even managing to run a surplus), and cut the national debt.