The 1932 decision by Hoover and Congress to raise income, estate, and corporate taxes on the wealthy to control the federal deficit resulted in

Question

Quizplus · Accepted Answer

The decision to raise taxes during a period of economic downturn led to reduced spending and investment by the wealthy, which in turn contributed to the loss of millions of additional jobs, exacerbating the effects of the Great Depression.

The 1932 Decision by Hoover and Congress to Raise Income