Mellon's series of tax reductions (1921-1926) (aug 25, 1921 – apr 14, 1926)

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Mellon helped engineer series of tax reductions (1921-1926); Congress follows Mellon, repealed excess-profits tax, gift-tax, reduced excise tax/surtax/ income tax/estate taxes; Policies shifted much of tax burden from wealthy to middle-income groups; Mellon known as greatest secretary by rich ppl; Reduced nat’l debt by $10 bill but should’ve made rich pay for it, not everyone else; Accused of indirectly encouraging bull market; If he took more of national income for taxes → less $$ for speculation; Typified probusiness regime that dominated political scene thru 1920s

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