The Underwood-Simmons Tariff of 1913 was a tariff reform and the first objective of President Wilson. It reduced average rates from 40 percent to 25 percent, enlarged the free list, and included a modest income tax.
Another perspective:Of course Woodrow Wilson explained that he would NEVER enact a tariff that would put restraints on America Business. The Underwood-Simmons Tariff did just that. When it first was brought about by President Wilson on March 4, 1913 it immediately started to hurt businesses and the American economy. It almost brought America to it's knees after the 'great prosperity' of 1912. This tariff actually hurt businesses and the economy so much and so quickly that 'soup-kitchens' were opened for the first time in all the major cities of the U.S., cities from New York to Los Angeles. By 1914 this tariff caused over 4,000,000 (four million) people to be out of work. The only thing that saved America from this Tariff was the ability to go to War, (WWI).When the war ended Warren G. Harding was elected President and he started to break apart the Underwood-Simmons Tariff, he died almost two years into his Presidency and Calvin Coolidge, his V.P., became President, lowering taxes, shrinking the size of government and making regulations that were better for America's people to be able to gain freedom and wealth by using their mind spirit and hard work in an open entrepreneur environment
protect infant industriesLevying an income tax
Abomination.
Tariff of Abominations
Tariff of abominations
I think, southerners call it tariff of abomination.
lower tariff rates
The Underwood Tariff lowered the basic tariff rate. It lowered the rate from 40 percent to 25 percent. It is also known as the Revenue Act of 1913, Underwood Act, and Tariff Act.
yes with the revenue act of 1913
protect infant industriesLevying an income tax
The Sixteenth Amendment
Helped push through sweeping reforms of the tariff and the banking system in 1913.
Abomination.
Answering "How were the Payne-Aldrich Tariff and the Underwood Tariff Act similar?" Answering "How were the Payne-Aldrich Tariff and the Underwood Tariff Act similar?" Answering "How were the Payne-Aldrich Tariff and the Underwood Tariff Act similar?"
It reimposed the federal income tax following the ratification of the Sixteenth Amendment and lowered basic tariff rates from 40% to 25%. It was signed into law by President Woodrow Wilson on October 3, 1913,
The Underwood-Simmons Tariff of 1913 was a tariff reform and the first objective of President Wilson. It reduced average rates from 40 percent to 25 percent, enlarged the free list, and included a modest income tax.Another perspective:Of course Woodrow Wilson explained that he would NEVER enact a tariff that would put restraints on America Business. The Underwood-Simmons Tariff did just that. When it first was brought about by President Wilson on March 4, 1913 it immediately started to hurt businesses and the American economy. It almost brought America to it's knees after the 'great prosperity' of 1912. This tariff actually hurt businesses and the economy so much and so quickly that 'soup-kitchens' were opened for the first time in all the major cities of the U.S., cities from New York to Los Angeles. By 1914 this tariff caused over 4,000,000 (four million) people to be out of work. The only thing that saved America from this Tariff was the ability to go to War, (WWI). When the war ended Warren G. Harding was elected President and he started to break apart the Underwood-Simmons Tariff, he died almost two years into his Presidency and Calvin Coolidge, his V.P., became President, lowering taxes, shrinking the size of government and making regulations that were better for America's people to be able to gain freedom and wealth by using their mind spirit and hard work in an open entrepreneur environment
A high tariff to limit foreign competition is called a protective tariff.
TARIFF