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Francis Everett Townsend (/ ˈ t aʊ n z ən d /; January 13, 1867 – September 1, 1960) was an American physician and political activist in California. In 1933, he devised an old-age pension scheme to help alleviate the Great Depression .
The Townsend Plan, officially the Old-Age Revolving Pensions (OARP) plan, was a September 1933 proposal by California physician Francis Townsend for an old-age pension in response to the Great Depression, leading to a social and political movement.
The law was part of Roosevelt's New Deal domestic program. By 1930, the United States was one of the few industrialized countries without any national social security system. [1] Amid the Great Depression, the physician Francis Townsend galvanized support behind a proposal to
Garet Garrett, Salvos Against the New Deal: Selections from the Saturday Evening Post, 1933–1940 (2002), edited by Bruce Ramsey; Thomas Fleming, The New Dealers' War: FDR and the War Within World War II (2002) Garet Garrett, Defend America First: The Antiwar Editorials of the Saturday Evening Post, 1939–1942 (2003), edited by Bruce Ramsey
The Union Party was a short-lived political party in the United States, formed in 1935 by a coalition of radio priest Father Charles Coughlin, old-age pension advocate Francis Townsend, and Gerald L. K. Smith, who had taken control of Huey Long's Share Our Wealth (SOW) movement after Long's assassination in 1935.
This idea was later popularized by Francis Townsend in 1933, and the influence of the "Townsend Plan" movement on debate over social security persisted into the 1950s. [5] [6] Early debates on Social Security's design centered on how the program's benefits should be funded. Some believed that benefits to individuals should be funded by ...
The first bill proposed a new progressive tax code designed to cap personal fortunes at $100 million ($2.372 billion in 2024 dollars). Fortunes above $1 million ($23.72 million in 2024) would be taxed at 1%; fortunes above $2 million ($47.45 million in 2024) would be taxed at 2%, and so forth, up to a 100% tax on fortunes greater than $100 million.
The New Deal was an economic plan put forth by Franklin Roosevelt that was notable in the speed by which it reacted to problems but heavily criticized by opponents the method by which it went about solving those problems which could be seen as hasty. [citation needed] The New Deal: