Will Mcclellan3/5/17. Herbert Hoover. Herbert Herbert Is

Will McClellan 3/5/17 Herbert Hoover Herbert Herbert is America’s 31st President and served between the years 1929-1933. He was president during some tough times such as the stock market crash of 1929 and the Great Depression. These were tough tasks for a president and since the Great Depression lasted so long, I don’t believe that he handled them very well so I believe that Herbert Hoover belongs in the hall of shame. Hoover became President in March, 1929. The stock market crash occurred in October, 1929 and lasted for four days. The stock market lost more than 25% of its value over those four days and is considered the worst crash in the history of the US stock market. The crash came after the successful†¦show more content†¦One major project he started was the construction of the Hoover Dam. This was part of a public work project designed to build things that needed to be build but also put people to work. Hoover started a project to build an very large dam and the project did employ thousands but since the project took years to complete, most were hired after he left office. The Hoover dam is considered one of the great engineering projects of all time . Hoover also supported the Smoot-Hawley Tariff which was designed to place a tariff or tax on farm imports to the US. The idea was to protect US farmers from cheaper foreign farm goods. But the idea backfired as other countries raised tariffs and just caused the Great Depression to deepen. Hoover also decided to raise the top income tax rate from 25% to 63%. This meant that top income earners would pay more taxes. He believed that this would raise much needed money to the government. But that did not happen. Top income earners had less income to spend and more had to go to the government. This slow down of spending caused the great depression to go on longer. It is now believed that lowering taxes is the best way to help a slow economy as people will have more money to spend. This will allow businesses to make more money and hire more people. Hoover did have some success with income tax. He decided to pursue gangsters for income tax