THE GREAT DEPRESSION 1929 1940
PRESIDENT HERBERT HOOVER AND THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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National Labor Relations
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Tennessee Valley Authority
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Works Progress Administration
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Social Security
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Detailed explanation-1: -The basic idea of the Townsend Plan was that the government would provide a pension of $200 per month to every citizen age 60 and older. The pensions would be funded by a 2% national sales tax (more precisely, a “transactions tax").
Detailed explanation-2: -The Townsend Plan promised every senior citizen $200 per month, regardless of past earnings. Under the social insurance program of the Social Security Act a worker whose earnings averaged $100 month for 40 years would collect a Social Security retirement benefit of only $35 month.
Detailed explanation-3: -The Townsend Plan was an American scheme in 1933–1936 during the Great Depression in the United States to give every person over age 60 a monthly cash payment of $200. It was devised by Francis Townsend, an elderly California physician.
Detailed explanation-4: -The Social Security Act established two types of provisions for old-age security: (1) Federal aid to the States to enable them to provide cash pensions to their needy aged, and (2) a system of Federal old-age benefits for retired workers.