Abstract

In the Driftway
November 14, 1934 issue

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This article focuses on the Old-Age Revolving Pension Plan in the U.S., sometimes called the Townsend plan, of rewarding men and women over sixty with a monthly stipend of $200. Old people, must, of course, agree to renounce any private income they may have, they must not engage in any remunerative work; and they must spend their whole pension in the United States before the next monthly check comes due. Perhaps the brightest promise of the Townsend planners is that society would be able to utilize one of its most valuable assets, the brains and experience of old people, now dissipated in the task of keeping body and soul together.

See Also:

PENSIONS -- United States; INCOME; PENSION fund management; RETIREMENT income; PENSION costs; UNITED States
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