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After the war, federal income tax rates took on the steam of the roaring 1920s, dropping to 25 percent from 1925 through 1931.
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The stock market begins its spectacular rise. Bears little relation to the rest of the economy.
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This 2% drop occurs from 1924 to 1930.
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The top tax rate is lowered to 25 percent - the lowest top rate in the eight decades since World War I.
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When the Act was passed, it created jobs for pilots, flight attendants, security, and many more. This act decreased the amount of total unemployed persons.
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Farmers' share of the national income has dropped from 15 to 9 percent since 1920.
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Between May 1928 and September 1929, the average prices of stocks will rise 40 percent. Trading will mushroom from 2-3 million shares per day to over 5 million. The boom is largely artificial.
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This occurred after the huge stock market crash of 1929
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the stock-market crash that occurred starts on October 28th and started the period of The Great Depression in the United States, starting a world-wide economic crisis and lasting till the mid 1930's.
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The rate of unemployed persons reaches its highest amount in late 1930 and early 1931. This is partially due to the stock market crash of 1929.
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When this act was signed into law, it raised tariffs on both imports and exports. This encouraged "buying American", which would improve the money circulating, and help the economy.
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