Very recommendable! When classical liberalism was still in effect and dominant in the U.S.!
"The 1920s were the single most consequential decade for the lives of everyday Americans. This is when the contours of modern life emerged. ...
The automobile also eased rural isolation. By 1929, most farmers had cars to get them to town. The car connected them. ...
The transportation revolution didn’t occur because the federal government offered tax breaks and subsidies. There was no federal spending bill to build the network of gas stations motorists needed. ...
As usual, pretty much everything occurred despite the government. ...
The 1920s also brought innovations in finance. Consumer credit was invented. In 1926, 75 percent of new vehicle purchases were financed. ...
And the government did not try to regulate improvement in the name of “equity.” Is it terrible that rich people got to buy a Model T Ford in 1924 and poorer people waited until 1927 to buy one at half the price? ...
The transportation revolution didn’t occur because the federal government offered tax breaks and subsidies. There was no federal spending bill to build the network of gas stations motorists needed. ...
As usual, pretty much everything occurred despite the government. ...
The 1920s also brought innovations in finance. Consumer credit was invented. In 1926, 75 percent of new vehicle purchases were financed. ...
And the government did not try to regulate improvement in the name of “equity.” Is it terrible that rich people got to buy a Model T Ford in 1924 and poorer people waited until 1927 to buy one at half the price? ...
In this context, President Coolidge and Treasury Secretary Andrew Mellon engineered the first great supply-side tax cut, dropping the top rate from 77 percent in 1918 to 25 percent.
Yet tax revenue rose, including from the rich people whose rates dropped most dramatically. A lot of that revenue came from compliance—getting rid of tax loopholes. When you cut the tax rate and eliminate loopholes, you often get more tax revenue. ...
What did Coolidge do? He constrained mischief on spending, fought for tax cuts, and made sure the government stayed out of the way. He appointed commissioners to the Federal Trade Commission and the Interstate Commerce Commission who did little to restrict the activities of businesses under their jurisdiction. The regulatory state under Coolidge was thin to the point of invisibility. ...
As others have demonstrated, Coolidge had some progressive policy preferences. But his view was that those were state and local matters with which the federal government was not allowed to interfere. ..."
What did Coolidge do? He constrained mischief on spending, fought for tax cuts, and made sure the government stayed out of the way. He appointed commissioners to the Federal Trade Commission and the Interstate Commerce Commission who did little to restrict the activities of businesses under their jurisdiction. The regulatory state under Coolidge was thin to the point of invisibility. ...
As others have demonstrated, Coolidge had some progressive policy preferences. But his view was that those were state and local matters with which the federal government was not allowed to interfere. ..."
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