July 8 Notes - July 8, 2009 History 2112 Dr. Hild The New...

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July 8, 2009 History 2112 Dr. Hild The New Deal TVA Act of 1933 o Tennessee Valley Authority o Revitalize economy of Tennessee Valley o Build damns, hydroelectric plants, water delivery, flood control o Modernize lives by bringing water/electricity to people o 288,000 households 1936 2 nd New Deal New Deal Critics o Right conservative side Problems with NIRA – big business did not like industrial codes to regulate o Left liberal side Not going far enough to help “little” people Revenue Act of 1935 o Soak the rich tax – largest tax in history o Established tax brackets $50,000 per year pay 90% tax o More you made, the more you pay William Randolph Hearst urged Roosevelt to ease up on taxes Charles Coughlin spearheaded social security Nationalize banks bc banks betrayed public trust Currency inflation – raise prices for farmers, raise wages Frances Townshend o $200 a month pensions for 60+ o to pay for pensions: 2% tax on all economic transactions
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July 8 Notes - July 8, 2009 History 2112 Dr. Hild The New...

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