12/7/2023 0 Comments Big business us history quizBut, when change deals with money and power, there always a chance for corruption. The late 1800s were a changing time in America. One of the most corrupt during this time was Boss Tweed and his Tammany Hall group who stole millions of dollars. The private sector became very powerful and some business owners were willing to do anything to get rich. But, some bad things were happening under the surface. There were a lot of good things happening during the Gilded Age. Boss Tweed was sent to jail, but not before the money of many Americans went to the pockets of people who were already rich. They were willing to break the law if it meant more money and power for them. Tammany Hall was a group that used money and power to buy politicians and change elections. Millions and millions of dollars! He ran a group called Tammany Hall. But secretly, he was stealing lots of money from the people and the government. He gave to the poor and even sent money to help good causes. He seemed like a nice person on the surface. One very corrupt person during this time was William "Boss" Tweed. They would pay people to vote the way they wanted or just pay to have other people change the votes. The most corrupt business owners tried to change elections. Some politicians took money from these wealthy business owners to help them get around certain rules or laws. Some of the richest business owners were making all kinds of money and not paying their fair share back to their country. Sometimes this meant giving money to people in power to let them get away with not paying taxes. People with money would do just about anything to keep their money and did what they could to make even more. Doing things like this made it harder for other people to really understand all of the things they were doing to make money. Does this sound a little confusing? It's supposed to be. The people in charge of the trust get money from managing its goods. A trust is an organization set up to control different goods or property. Another thing they could do was form a trust. Some business owners used LLCs because they didn't have to pay as much in taxes either. An LLC is a kind of company where a business owner can make money by himself or with a partner, but not be completely responsible if things do not go well. Some set up LLCs (limited liability company). There were several ways a business owner could make even more money. They could pretty much do anything they wanted, to make as much money as possible. So, these business leaders had total power over their factories. The private sector is made up of businesses that are not run by the government in any way. These wealthy business owners were part of the private sector. During the Gilded Age, the rich just seemed to keep getting richer and richer. Of course, the people working in those factories did not get any money other than their pay each week. That meant they had even more money to buy new land and build more factories. The people who owned the factories got very rich as people bought their goods. On the surface it was a great time in American history, but bad things were happening just out of sight. People had money, jobs, and the ability to buy new things. The new railroads helped transport those goods all over the country. New machines in those factories made things faster than ever before. Many people found work in factories and mills. It was a time when much of the country was growing. The Gilded Age is the time of big business growth and political corruption in the U.S.
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