the staff of the Ridgewood blog
Ridgewood NJ, the Smoot–Hawley Tariff Act of 1930 is widely known for raising U.S. tariffs on thousands of imported goods, triggering retaliatory trade wars and deepening the Great Depression. But what many people don’t realize is that tariffs weren’t the only form of revenue the U.S. government relied on during this turbulent time. So, did the government also raise taxes in this period? The answer is yes—significantly.
