you-ess-ay legislation from 1920s RE $$$

Okay okay holy crap quarter-way through holidays, though essentially half I guess because no way I'm going to be studying properly EVERY SINGLE DAY soooooo sdlkffjfffffffffff

US's agriculture problem, something like... during WWI, govt guaranteed high prices for farmers and gave them loans for them to produce more and modernise their methods...? Then the price guarantees ended with the end of the war and the farmers had ... surplus produce ... and needed to pay off their loans? ... once upon a time I knew this properly.

1921 Emergency Tariff Act
Farm Bloc lobbied govt to impose tariffs to help US farmers, this was the result - tariffs on what 28 agricultural products? Yes 28 wooo historical detail.

1930 Smoot-Hawley Tariff Act
Hoover! ...attempting to deal with Great Depression. Implemented high tariffs on foreign imports in attempt to protect US economy from ze Great Depression... I think what happened was ... this choked off foreign economies, who then retaliated with tariffs of their own, thus further spreading Depression around the world??

1921 Revenue Act
Reduced income tax, especially for the wealthy. Highest tax = 65% down to 50% ... example of Republican belief in Hamiltonian trickle-down principles? Wealth in hands of those at the top - the rich - will be spent and thus stimulate economy and further the wellbeing of everyone else or something like that. But the rich used the money to invest, instead of spending so...

1926 Revenue Act
Reduced in heritance tax and lowered max rate of income tax to 20%

1921 Budget and Accounting Act
essentially forced Treasury Dept to balance budget; trad Republican economic ideal of balanced budget???

1922 Fordney-McCumber Tariff Act
...more tariffs. Highest tariffs in history on manufactured goods + preserved the tariffs of the 1921 Emergency Tariff Act ... choked European markets! tariffs had an adverse effect because ... it robbed the farmers of a market with which they could get rid of their surplus produce, it caused other countries to retaliate with tariffs of their own and thus spread effects of Depression and ... something ...

So. Not checking notes...
1921 Emergency Tariff Act
1930 Smoot-Hawley Tariff Act (Hoover trying to deal with Depression)
1921 Revenue Act - lowered income tax, esp for rich, 65% down to 50%
1926 Revenue Act - lowered in heritance tax and income tax, max rate was 20%
1922 Fordney-McCumber Tariff Act - historically amazingly  high tariffs on manufactured goods and kept tariff levels of the 1921 Emergency Tariff Act ...
YEAH OKAY I CAN REMEMBER THAT.[/memoryspew]

Oh right yeah 1921... Budget and Accounting Act. Budget and Accounting Act of 1921 made Treas Dept balance budget. Okaaaaay...


oh yeah also these are talking-to-self study blogposts from someone who ... just ... okay you can tell how reliable these notes are by the sheer number of ellipses that appear here so yes //disclaimer