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Congress can't stand the pressure of the Townsend Plan unless we have a real old-age insurance system." As Roosevelt said, Social Security was passed by Congress substituting a pay-as-you-go "insurance" scheme for Townsend's far more generous pension plan, but as he told Perkins, it was the Townsend Clubs that forced Congress to act at all.
Congress can't stand the pressure of the Townsend Plan unless we have a real old-age insurance system." As Roosevelt said, Social Security was passed by Congress substituting a pay-as-you-go "insurance" scheme for Townsend's far more generous pension plan, but as he told Perkins, it was the Townsend Clubs that forced Congress to act at all.
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.
There's no denying the United States' Social Security program is on the defensive. Without any changes to how -- or how well -- it's funded, experts anticipate a roughly 20% reduction to benefits ...
3. Maximum Social Security benefit also set to increase. The maximum Social Security benefit for a worker retiring at full retirement age will increase from $3,822 in 2024 to $4,018 in 2025. This ...
The $ 22,924 Social Security bonus most retirees completely overlook If you're like most Americans, you're a few years (or more) behind on your retirement savings.