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Revenue Act of 1926
Facts for kids
The following fact
sheet contains interesting facts and information on Revenue Act of 1926
for kids.
Facts
about the Revenue Act of 1926 for kids
Revenue Act of 1926 Fact 1:
The 1926 law reduced the maximum individual income tax
rate from 40% to 25%.
Revenue Act of 1926 Fact
2:
The bill addressed objections to the 1924 act by
eliminating the gift tax and reduced the estate tax
(inheritance tax) from 40% to 20%.
Revenue Act of 1926 Fact
2:
The estate tax (inheritance tax) was significantly
reduced from 40% to 20%.
Revenue Act of 1926 Fact 3:
The act reversed the 1924 provision
that allowed newspapers to publish details of people and their tax
payments.
Revenue Act of 1926 Fact 4:
The bill reduced personal income taxes - by 1928 the majority of tax
payers were paying ½% federal income tax and wealthy
Americans were paying 25%.
Revenue Act of 1924
Fact 7: The Roaring Twenties were a golden age for tax
cuts that were introduced as part of the
Mellon Plan. The new,
reduced federal income tax rates
put additional money into the hands of the consumers.
Revenue Act of 1924
Fact 8: However, the federal income tax cuts contributed to
the wild spending trends of consumers, which in turn
led to the over-production of goods, which subsequently led to
the
1929 Wall Street Crash.
Revenue Act of 1924
Fact 9: For additional interesting facts and
information refer to the
Economic Boom of the 1920's and
Consumerism in the 1920's.
Facts
about the Revenue Act of 1926 for kids
Revenue Act of 1926 for kids - President Calvin Coolidge Video
The article on the Revenue Act of 1926 provides detailed facts and a summary of one of the important events during his presidential term in office. The following
Calvin Coolidge video will
give you additional important facts and dates about the political events experienced by the 30th American President whose presidency spanned from August 2, 1923 to March 4, 1929.
Revenue Act of 1926
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Interesting Facts about Revenue Act of 1926 for kids and schools
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Summary of the Revenue Act of 1926 in US history
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Revenue Act of 1926 of important, key
events
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Calvin Coolidge Presidency from August 2, 1923 to March 4, 1929
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Fast, fun facts about the Revenue Act of 1926
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Foreign & Domestic
policies of President Calvin Coolidge
● Calvin Coolidge Presidency and
Revenue Act of 1926 for schools,
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