Question

What is the effect of Revenue Act of 1926 to the Americans?

A. It raised the estate taxes Americans had to pay.

B. It increased the purchasing power of rich Americans.

C. It provided tax relief in cases of natural disasters.

D. It reformed the nation's system of taxation.

Answer 1

B. It increased the purchasing power of rich Americans.

Step-by-step explanation:

PLATO

Answer 2

I think the correct answer from the choices listed above is option B. The effect of Revenue Act of 1926 to the Americans is that it increased the purchasing power of rich Americans. It reduced inheritance and personal income taxes, cancelled many excise imposts, eliminated the gift tax and ended public access to federal income tax returns.