Welcome back to O’Connor’s blog series on former presidents whose tax policies complement our own ideals and values. Calvin Coolidge shared O’Connor’s belief that the finest tax laws for the American people should be implemented. It is a privilege to highlight Coolidge, who was a major proponent and driver behind tax cuts and a booming economy in the 1920s.
Calvin Coolidge (1923-1929): Early Days
Born July 4, 1872, in Plymouth Notch, Vermont, Calvin Coolidge was the only child of John Calvin Coolidge Sr. and Victoria Coolidge. After attending the public school in the area, Coolidge went on to graduate from the Ludlow, Vermont, private Black River Academy. He pursued further studies at Amherst College in Massachusetts, where he received his degree in 1895. He participated in student government and was well-known for his hard work ethic. Coolidge returned to Vermont after graduating from college and took a job as a legal clerk in a nearby firm. In Northampton, Massachusetts, he eventually began his own practice after passing the bar test.
When Coolidge was chosen to serve on the Northampton City Council in 1898, he officially started his political career. He held many local offices before being elected to the Massachusetts House in 1907. As he advanced through the ranks of politics, he held positions as the lieutenant governor of the state of Massachusetts, the mayor of Northampton, and a member of the legislature. Following Warren G. Harding’s untimely death in 1923, he was elected president. Early life events molded Coolidge’s personality and political outlook, stressing thrift, hard labor, and support for small government.
Coolidge’s Take on Economic Success and Taxation
Strong taxation beliefs were a reflection of Coolidge’s general limited government and fiscal conservative beliefs. Coolidge believed in cutting taxes to spur economic growth. He thought that large tax cuts, especially for higher earners, would stimulate investment and business, hence he backed them throughout his administration. People today can relate to his effort to encourage economic growth.
He maintained that tax cuts would enable people and companies to keep a larger portion of their income, encouraging economic independence and personal accountability. Coolidge felt that the government should operate within its means and highlighted the need for a balanced budget. He advocated for reduced taxes because he was dedicated to cutting down on government expenditure.
As a fierce supporter of industry, Coolidge believed that the government ought to have as little influence as possible on the economy. The Roaring Twenties’ economic boom is often linked to his administration. The Roaring Twenties or the Jazz Age, took place in the United States during the 1920s, and came to be due to the significant cultural and economic change that occurred during this time. With expanding employment and rising earnings, the economy grew at an amazing pace. The standard of life for many was greater than in earlier decades. Coolidge thought that by creating a climate that was conducive to economic expansion, tax cuts had a part in this success.
His well-known statement, “The business of America is business,” reflects his appreciation for the private sector and his faith in capitalism. He was wary of government expenditure and often saw it as a possible cause of inefficiencies. Coolidge thought that letting the private sector flourish without undue regulation or taxes was the greatest way to promote economic progress.
Even though he was often eclipsed by later presidents, Coolidge’s ideas and style of governance have been reassessed throughout time, and some even see him as a forerunner of contemporary conservatism. Ultimately, Coolidge’s views on taxes were based on his support for minimal government involvement in the economy and the strength of free markets.
Fun Facts about Calvin Coolidge’s Presidency and Personal Life
- Due to his reserved manner, Coolidge was known as “Silent Cal,” because he had a reputation for being a man of few words, often letting deeds speak louder than words.
- Prior to entering politics, Coolidge was raised on a Vermont farm. He often worked long hours on his family’s farm and respected hard effort.
- During their tenure in the White House, Coolidge and his wife Grace had a number of pets, one of which was a raccoon called Rebecca that they got as a Thanksgiving present.
- Nestled in his hometown of Plymouth Notch, Vermont, the Calvin Coolidge Presidential Library and Museum preserves both his legacy and the history of his government.
- Coolidge wed Grace Anna Goodhue in 1905; she was a teacher who played a significant role in his political career.
O’Connor Fights for Reduced Property Taxes
Calvin Coolidge was an advocate for tax reduction in support of economic growth, which ultimately benefited the people during the 1920s. He believed tax cuts would allow individuals and businesses to retain more of their money, boosting economic independence. O’Connor is also committed to lowering property taxes and educating Texans on more efficient methods to protest their taxes. The greatest strategy to reduce property taxes is to protest annually.
With O’Connor, contesting your residential property taxes is simple and risk-free. Our tax plan aims to lower taxes via ARB hearings, court appeals, and binding arbitration. O’Connor will never charge property owners a fee until they get a reduction. When we reach one, we charge property owners a percentage based on the drop in property taxes. We provide a quick and simple three-minute online enrolling procedure.
In 2023, O’Connor’s clients saved more than $215 million on property taxes, and in 2024, they have already surpassed $237 million. Every year, our property tax specialists submit a protest to fight your high taxes. After you sign up, we will continue to work hard to get you the most tax savings each year. When ARB hearings don’t provide a satisfying outcome and we believe a larger reduction is possible, O’Connor takes the initiative to set up binding arbitration and court appeals.
How Can O’Connor Help You?
Our primary objective is to provide the greatest annual property tax drop to property owners. In this blog series, we hope you are learning some fascinating information about presidents who share O’Connor’s tax-cutting philosophies. O’Connor provides services for business personal property, as well as residential and commercial assets. Our qualified staff consists of seasoned, dependable specialists that are dedicated to our clients and deliver great work and customer service. All legal, appraisal, expert witness, and court costs are covered by O’Connor, and we only get paid if your taxes are lowered.
