Warren Harding
Warren Harding was the 29th President of the United States, his term lasting from 1921 to 1923. During his campaign, he called for a "return to normalcy," which was essentially his way of saying that he was pro business, anti tax, and anti-regulation government. During this time, the tax rates for rich Americans plummeted from 73% to 25%, which allowed several wealthier people to invest in the Stock Market, which skyrocketed. However, the wealth distribution went mainly to the rich. In 1929, 0.1% Americans (the richest of them all), owned the same amount of money as the bottom 42% (the poorest). The wealth was not balanced, which was a major driving factor toward the Crash of 1929.
The Teapot Dome Scandal occurred from 1921 to 1924, where Harding's Interior Secretary accepted bribes from the oil industry in exchange for excavation rights. The bribes totaled to almost $500,000, and were used to obtain rights to dig in Teapot Dome, Wyoming and Elk Hills, California. Due to this incident, many people consider him to be the worst and most inept president in office, however, this is a matter of subjective opinion. Warren Harding died in office in August 2, 1923 from a stroke, and was replaced with Calvin Coolidge.
The Teapot Dome Scandal occurred from 1921 to 1924, where Harding's Interior Secretary accepted bribes from the oil industry in exchange for excavation rights. The bribes totaled to almost $500,000, and were used to obtain rights to dig in Teapot Dome, Wyoming and Elk Hills, California. Due to this incident, many people consider him to be the worst and most inept president in office, however, this is a matter of subjective opinion. Warren Harding died in office in August 2, 1923 from a stroke, and was replaced with Calvin Coolidge.