The Wilson Years Chapter 6 Lesson 3

The Election of 1912 Governor Woodrow Wilson Former President Theodore Roosevelt President William H. Taft

Republican Party Platform High Import Tariffs Put limitation on female and child labor Workman’s Compensation Laws Against initiative, referendum, and recalls Against “bad” trusts Creation of a Federal Trade Commission Stay on gold Standard Conservation of natural resources because they are finite

Progressive Party Platform N e w N a t i o n a l i s m Women’s Suffrage Graduated income tax Inheritance tax for the rich Lower tariffs Limits on campaign spending Currency reform Minimum wage laws Abolition of child labor Workmen's compensation

Democratic Party Platform Government control of the monopolies Trusts in general were bad, eliminate them Tariff reduction One-term President Direct election of Senators Create a Dept. of Labor Strengthen the Sherman Anti-Trust Act Did NOT support women’s suffrage Opposed to a central bank Ne w F r e e d o m

The Wilson Years Direct Tax - Tax imposed directly on a person or their property Tax must be equal among all states, ie: if a state has 20% of the population, they must pay 20% of the taxes, rich or poor Difficult to pass Indirect Tax - Tax that someone pays, but the tax burden falls on someone else If you buy a car, the company that makes it gets taxed, and you end up paying for it in the bill Sales taxes, excise taxes, and tariffs Income Taxes – tax on the net income of a person or business

16th Amendment 1894 Congress passed a income tax on wealthy Americans 1895 Supreme Court struck it down saying it was taxing all types of income Most wealthy people gained money from real estate Income from property was a direct tax and therefor had not been divided proportionately among the states 1913 16th amendment was passed to tax all income

Wilson’s Reforms Revenue Act of 1913 Federal Reserve Act of 1913 Reduced the average tariff on imported goods 30%, added a graduated income tax Federal Reserve Act of 1913 Created the regional reserve banks that could set interest rates Federal Trade Commission (FTC) Power to investigate companies and issue “cease and desist” orders if found to be engaging in unfair trade practices

Wilson’s Reforms Congress passed the Clayton Antitrust Act in 1914 Outlawed certain practices that restricted competition such as price discrimination (charging different customers different prices) Keating-Owen Child Labor Act Prohibited employment of children under 14 in factories producing good for interstate commerce Declared unconstitutional in 1918