Final answer:
Historical U.S. economic policies supporting businesses included reducing taxes for the wealthy, raising tax exemption levels, and implementing protective tariffs. These policies aimed to protect domestic businesses and industries, though prolonged protectionism can have negative effects on international competitiveness.
Step-by-step explanation:
Among the various government policies that support business in the U.S. economic environment, the most historically relevant include reducing taxes for the wealthy, tax exemption for specific classes, and the implementation of protective tariffs to shield U.S. businesses from foreign competition. During the 1920s, U.S. Congress enacted laws to significantly lower the tax rate for the wealthiest from over 70% to just above 20% and raised the exemption level; thus, more middle and upper-middle-class families did not have to pay any federal tax.
Additionally, estate taxes on large fortunes were reduced to favor wealthier Americans, while tariffs were raised on imports to protect domestic industries.
Although no specific 'no-taxes policy for new firms' is outlined, these historical measures demonstrate the U.S. government's support for business through fiscal policy. Furthermore, measures like targeted tax reductions and government support for research and development have also been tools to support key industries without resorting to long-term protectionism. It's important to note, however, that over-protection through tariffs can lead to subsidized inefficiencies and may discourage domestic industries from becoming internationally competitive.