What effect did the Revenue Act of 1926 have on Americans?

It was the current revision of the Internal Revenue Code, now Title 26 of the US Code . The Revenue Act of 1926 was actually passed in 1925 and affected income for the 1925 year. The effect of the law was to further lower income taxes. Corporate taxes were increased from 12.5% to 13.5% to help offset the loss in revenue.

Answered by djnomad | 2024-06-10

** **B It increased the purchasing power of rich Americans. ;

Answered by BabygirlKenzie | 2024-06-13

The Revenue Act of 1926 significantly lowered income taxes for individuals while slightly increasing corporate taxes. This legislation aimed to stimulate the economy during the 1920s and set a precedent for future tax policies. Ultimately, it contributed to consumer spending and investment but also played a part in the economic instability that led to the Great Depression.
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Answered by djnomad | 2024-09-19