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How prosperous was America during the 1920s?

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But the Roaring '20s were, in fact, a great time to be rich. Treasury Secretary Andrew Mellon, himself an extremely successful investment banker, lowered the top marginal income tax rate for the wealthiest Americans from 73% to just 25% while investors enjoyed one of the greatest bull markets in American history. read more

However, most Americans were better of in 1920s American than most people (in any country) had ever been before. The prosperity was real - if one compares living standards to living standards before the 1920s or in other countries during the 1920s. read more

So ran a Republican slogan during Herbert Hoover's 1928 presidential campaign—the phrase that has come to symbolize the unparalleled prosperity of the 1920s. The nation's economy reached astounding production, consumption, and stock market records, rendering the severe postwar recession a bad memory, except, unfortunately, for farmers, working-class laborers, and African Americans and other minorities. read more

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