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George Tierney 1913 - 1972

George Tierney was born on April 23, 1913, and died at age 59 years old in October 1972. Family, friend, or fan, this family history biography is for you to remember George Tierney.

George Tierney

April 23, 1913

October 1972

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George Tierney George Tierney (1913 - 1972)

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George Tierney's History: 1913 - 1972

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04/23

1913

Birthday

April 23, 1913

Birthdate

Unknown

Birthplace

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10/dd

1972

Death

October 1972

Death date

Unknown
Cause of death

Unknown
Death location

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George Tierney lived 14 years shorter than the average family member when died at the age of 59.

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George Tierney lived 14 years shorter than the average family member when died at the age of 59.

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In 1913, in the year that George Tierney was born, ratified in February the 16th Amendment, establishing a Federal income tax, became law. Previously, customs duties (tariffs) and excise taxes were the primary sources of federal revenue. With the passage of the 16th Amendment, incomes of couples exceeding $4,000, as well as those of single persons earning $3,000 or more, were subject to a 1% Federal tax (that would be about $98,000 and $74,000 now). Rates rose to 7% for incomes over half a million dollars. Less than 1% of the population was subject to income tax.

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In 1933, George was 20 years old when the day after being inaugurated, the new President, Franklin Roosevelt, declared a four-day bank holiday to stop people from withdrawing their money from shaky banks (the bank run). Within 5 days of his administration, the Emergency Banking Act was passed - reorganizing banks and closing insolvent ones. In his first 100 days, he asked Congress to repeal Prohibition (which they did), signed the Tennessee Valley Authority Act, signed legislation that paid commodity farmers to leave their fields fallow, thus ending surpluses and boosting prices, signed a bill that gave workers the right to unionize and bargain collectively for higher wages and better working conditions as well as suspending some antitrust laws and establishing a federally funded Public Works Administration, and won passage of 12 other major laws that helped the economy.

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George Tierney's Family Tree & Friends

George Tierney's Family Tree

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George Tierney Apr 23, 1913 - Oct 1972

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