What did Andrew Mellon do?

Updated: 8/19/2023
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12y ago

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Andrew Mellon was the Secretary of Treasury from 1921 to 1932, when he was appointed under Warren G Hardings Presidency he introduced policies which reduced taxing on the corporations and businesses in America, the wealthy citizens of America and also on the middle and lower-class working family.

This policy worked wonderfully, the government expenditure dropped from 6.4 billion in 1920 to 3.3 billion in 1922.

The national debt of America in 1920 was 24 billion, because of Mellon, it dropped to 18 billion in 1929. He was also successful in dealing with the postwar depression that hit the united States (World War 1)

Basically: He decreased taxes, thus giving the businesses and wealthy citizens of America more money to invest in their businesses, which created jobs.

The American citizens were able to buy more from these businesses as their income after tax had increased as well.

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12y ago
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11y ago

the abotion of income tax

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Q: What did Andrew Mellon do?
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