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COOLIDGE ECONOMICS:"The president believed that lower taxes and reduced government spending would result in a freer, more democratic society. He hoped to return the country to a version of what it had been before passage of the Income Tax Amendment, a time of small--and primarily local--government....Government should remain out of the economy, and businessmen should not interfere with proper functions of government. Coolidge believed that the wedding of government and business would lead to socialism, communism, or fascism, and would certainly alter the nature of American life."
December 7, 1926: fourth annual message to Congress by Calvin Coolidge: he notes the peace and prosperity. He calls for tax cuts and praises tariffs for revenue. He backs regulation of the radio and stronger national banks. He calls for a reduction in government bureaus which seek to regulate and control the business activities of the people.
Sobel, Coolidge, An American Enigma,p. 332 and p. 330.
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