The Secod New Deal Flashcards
What did the Revenue Act do and when was it passed?
•increased taxes on large incomes and corporations
•1934
•response to Huey Long’s Share Our Wealth programme
• received criticism from far right - American Liberty League
• however only raised $250m
How much did taxes increase by under the New Deal
• 80% on wealthy individuals
• tax revenue increased by 328% - negative, taxes placed on goods like alcohol, businesses raise prices of goods, harder for the poor to access them
What did the Banking Act do?
• extended federal control over private banking
• response to Father Coughlin’s criticism over radio talks attacking Roosevelt and capitalism
• deemed as unconstitutional
• however was a long term reform
What was the Wagner Act?
•1935
• combated failures of NRA in 1933, established a minimum wage, limited workers hours
• upheld by Supreme Court in 1937
What was the Social Security Act?
• introduced pensions, unemployment insurance, more long term reform
• 1935
• response to Francis Townsend’s call for $200 monthly pensions
What did the Resettlement Administration do?
• Helped relocate 45,000 farming families from areas most affected by the Dustbowl
• 1935
What did the Rural Electrification Administration Act do?
• Helped to provide electricity to rural areas - 40% of farms had electricity by 1940
What did the Works Progress Administration of 1935 do?
• helped groups that received less support - women through CCC camps, African Americans, artists and musicians
• spent $4bn getting people to work in 1935, then spent $11bn getting 8m people into work until 1943
What caused the Roosevelt Recession?
Roosevelt tried to balance budgets by making cuts in federal spending and increased taxation but this led to higher unemployment
What was unemployment in 1933 compared to 1937
1933 - 25%
1935 - 22%
What was gnp in 1929 to 1937
1929 - 37%
1937 - 42%
