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Andrew Mellon wanted to have tax rates reduced because lower taxes mean more money is available to expand businesses and add to employment. This was true in Mellon's time and is true today. The Government is an extremely inefficient spender of money. Compared to the private sector, government is less efficient because it does not need to worry about gains or losses.
Wiki User
∙ 10y ago
Wiki User
∙ 9y agoAndrew Mellon wanted to reduce federal tax rates because he knew the effect it would have on the economy. Lower tax rates are good for economic growth.
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Why did President Coolidge support the Revenue Act of 1924?
Answer this question… He wanted to reduce federal income tax rates.
Who sets national interest rates in the US?
The Federal Reserve (The Fed)
Federal government affect interest rates?
The federal government affects interest rates more than any other factor. They set the Fed Funds rate and the Prime rate. Fannie Mae, Freddie Mac, FHA. VA, and USDA loans are all backed or guaranteed by the federal government. Most of these loans are securitized into mortgage-backed bonds. Thus the coupon rates and performance of these bonds directly affect rates.
What is provided on a government website and intended to reduce injuries?
Product Safety Comparisons
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It was the first Federal law that regulated Big Business
Why did Andrew Mellon work to reduce tax rates?
Andrew Mellon wanted to have tax rates reduced because lower taxes mean more money is available to expand businesses and add to employment. This was true in Mellon's time and is true today. The Government is an extremely inefficient spender of money. Compared to the private sector, government is less efficient because it does not need to worry about gains or losses.
What was the goal of tax cuts urged by Treasury Secretary Andrew Mellon?
Mellon's goal of reducing the huge federal debt required an increase in federal revenue. He observed that when tax rates were high, people avoid paying them. His controversial theory was that by lowering the tax rates, the overall tax revenue will increase.
Why did President Coolidge support the Revenue Act of 1924?
Answer this question… He wanted to reduce federal income tax rates.
Can I get lower car insurance rates with DUI if I live in a specific location?
There are ways to reduce your car insurance rates after a DUI. Some states have classes you can take to reduce your rates and there are other ways to reduce also. Perhaps Virginia is providing means of reducing rates that are not available in Michigan.
What are the average rate of Fed Funds?
This week, Federal Fund rates are at .25. These rates are ever-changing so it is important to check them often. http://www.bankrate.com/rates/interest-rates/federal-funds-rate.aspx
How are small business loan rates affected by the Fed discount rate?
All loan rates are effected by the federal rate. if the federal rate increases then all loan rates will do likewise.
What will the federal tax rates be in the 2025?
32
For what reason did the Central Bank reduce the interest rates?
Central banks have control of the prevailing interest rates in the country and they usually reduce or increase them to maintain the country's economic status. If the country is having high inflation then the central bank would increase the interest rates to suck in excess cash from the markets and to reduce rates of essential commodities. Similarly, when the country is in a economic crisis, they might reduce interest rates to make borrowing cheaper and to promote spending.
Which types of loans have the lowest interest rates?
Federal
How does the feds counteract a recession?
they try to reduce interest rates
Who sets the federal income tax rates?
Congress along with approval of the President.
Are federal loans n private loans similar?
No, federal usually have lower interest rates.
