The Politically Incorrect Guide to American History

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9. The 1920s

  • Politically Incorrect Guide to American History

Tags U.S. EconomyU.S. History

02/01/2007Thomas E. Woods, Jr.

In the 1920s Presidents Harding and Coolidge never got close to the poll favorites of Washington, Lincoln and FDR when ranked, because they killed fewer, taxed less, made their administrations almost invisible, and sought no wealth or glory.

Without grand programs, Harding and Coolidge presided over one of the most economically prosperous times in America’s history. Income tax rates fell from 73 percent to 40 percent and later to 25 percent. Most people in the lower income brackets saw most of their income tax burden eliminated altogether.

Isolationist is a smear term, but in reality, the American administrations in the 1920s disarmed naval ordinance, joined the Four Power Pact, and the Nine Power Pact. Holding international meetings is hardly isolationist action. Starting the Student Exchange Program fostered international relations.

Lecture 9 of 14 from Tom Woods' The Politically Incorrect Guide to American History lecture series.


Contact Thomas E. Woods, Jr.

Tom Woods, a senior fellow of the Mises Institute, is the author of a dozen books, most recently Real Dissent: A Libertarian Sets Fire to the Index Card of Allowable Opinion. Tom's articles have appeared in dozens of popular and scholarly periodicals, and his books have been translated into a dozen languages. Tom hosts the Tom Woods Show, a libertarian podcast that releases a new episode every weekday. With Bob Murphy, he co-hosts Contra Krugman, a weekly podcast that refutes Paul Krugman's New York Times column.

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