Political Quotes

Calvin Coolidge: The depression that overtook business, the disaster experienced in agriculture, the lack of employment and the terrific…

On the record
The depression that overtook business, the disaster experienced in agriculture, the lack of employment and the terrific shrinkage in all values which our country experienced in a most acute form in 1920, resulted in no small measure from the prohibitive taxes which were then levied on all productive effort.
Said by
Calvin Coolidge
Republican · Vermont

Editor's note · Context

Coolidge links the economic hardships of 1920 to the high taxes imposed on productive efforts.

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