Treasury Secretary Mellon believed that decreasing taxes on the rich would increase investment in potentially productive business enterprises.

Question

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Treasury Secretary Andrew Mellon, who served in the 1920s, advocated for reducing taxes on the wealthy with the belief that this would lead to increased investments in productive business ventures, a principle that aligns with what later became known as "supply-side economics."

Treasury Secretary Mellon Believed That Decreasing Taxes on the Rich