The 1932 decision by hoover and congress to raise income

The 1932 decision by Hoover and Congress to raise income, estate, and corporate taxes on the wealthy to control the federal deficit resulted in the loss of millions of additional jobs.

Explanation:

The Great Depression began with the Wall Street Crash in October 1929. The stock market crash marked the beginning of a decade of high unemployment, poverty, low profits, deflation, plunging farm incomes, and lost opportunities for economic growth as well as for personal advancement. Altogether, there was a general loss of confidence in the economic future.

The usual explanations include numerous factors, especially high consumer debt, ill-regulated markets that permitted overoptimistic loans by banks and investors, and the lack of high-growth new industries. These all interacted to create a downward economic spiral of reduced spending, falling confidence and lowered production. Industries that suffered the most included construction, shipping, mining, logging and agriculture (compounded by dust-bowl conditions in the heartland). Also hard hit was the manufacturing of durable goods like automobiles and appliances, whose purchase could be postponed. The economy hit bottom in the winter of 1932-33; then came four years of growth until the recession of 1937-38 brought back high levels of unemployment.