Social Security History: The Townsend Plan of California

This year is 1935, America is now in the midst of the world's biggest economic depression. Nearly 15 million Americans are unemployed and nearly half of American banks are closed down; food, housing, even even work is no longer a luxury that millions of Americans can enjoy. Anxiety defines these difficult times. Americans often ask himself, "When is there enough food again, how can I buy children's clothes?"

In 1933, a man of Francis Townsend wrote a letter to a local newspaper editor and proposed a plan to fund elderly people all over the US monthly. Within a year, millions of people organized into a grassroots group nationwide, distributed brochures to the community, and supported adoption of the Townsend program. Just one year later, Franklin Roosevelt proposed and passed a social security law, and provided the first federal aid to retirees in the United States.

10 The Townsend program proposed by Francis Townsend in 1933 is a pension plan covering retirees aged 60 and older, and a 2% domestic sales tax will be donated. It is a pioneer of social security. See documents 23 and 26.11. As part of its efforts to respond to the economic crisis, the Federal Emergency Aid Agency established several areas where refugees can move. One of them was in Alaska. There, 203 families moved from the upper part of the Midwest. Or is it "a corner of Africa of 51 years" shape? 12 Or will these kids murdered in the West share the history and traditions of California? The charm of gold in the past and in the land was replaced by the current drought and melancholic drive.

But the depression in the early 1930's caused nationwide suffering and caused a popular campaign for old-age pensions adjusted by retired California doctor Francis Townsend. The Roosevelt regime responded by ensuring the social security law in 1935. In addition to some initial costs, the program is also funded by payroll tax. When he introduced the law to Congress in January 1935, Roosevelt commented on flexibility and contrasted with later views. This is not included in social security, and social security has not been voluntary yet has been fixed at fixed amount. As critics have pointed out, the potential annuity yield of young workers' investment is very low, so many people are participating in any pension managed by the suspicious federal.