The Progressive Presidents Theodore Roosevelt The Square Deal

The Progressive Presidents

Theodore Roosevelt: The Square Deal n Consumer Protection n Upon reading Upton Sinclair’s The Jungle, TR orders investigations n TR supports legislation to ensure purity of food & drugs n n Pure Food and Drug Act (1906) Meat Inspection Act (1906)

Theodore Roosevelt: The Square Deal n Regulating Business n The “Trustbuster” The Sherman Antitrust Act: It prohibits certain business activities that federal government regulators deem to be anticompetitive n been used to oppose the combination of businesses that could potentially harm competition, such as monopolies or cartels. n TR used Justice Department to prosecute n n Railroad, meatpacking, and oil trusts

William Howard Taft: Reforms n Reforms Contrary to popular belief, busts more trusts than TR n Supported eight-hour workday and mine safety legislation n Sixteenth Amendment federal income tax n Seventeenth Amendment direct election of senators n

William Howard Taft: Problems n Problems Not a great politician like TR n Wanted to lower tariffs, while Congress raised them n n Progressives felt he backed down on this by not vetoing a tariff raising bill n Republican Party spilt over protecting American business, while combating trusts

Woodrow Wilson: New Freedom n n Concentrated economic power threatened individual liberty Monopolies had to be broken up so the marketplace could truly be open

Woodrow Wilson: Financial Reforms n Underwood Tariff Act n n lowers tariffs for the first times since the Civil War provides for graduated income tax/progressive tax Creates Federal Trade Commission to investigate businesses Federal Reserve System n National Banking System (12 banks) n n Provided for fair interest rates Money no longer would depend on gold supply Income level Tax rate up to $20, 000 1% $20, 000 - $50, 000 2% $50, 000 - $75, 000 3% $75, 000 - $100, 000 4% $100, 000 - $250, 000 5% $250, 000 - $500, 000 6% over $500, 000 7%

Bye-Bye Progressives n End of the Progressive Era n World War I causes US to focus on war effort and not social change