Word: pensionable
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...Federal Government will pay half the amount of State pensions to poor persons now over 65 but not more than $15 a month. If such a pensioner leaves any estate, however, the Government will claim from it the total amount of Federal contributions to his pension...
...McGroarty Bill called for the Townsend Plan-$200 a month pension for every well-behaved oldster over...
...wage. Thus if a man works at a wage income of $100 a month for 45 years he will have contributed $1,050 to the annuity fund and his employers an equal amount. The total sum, $2,100, even with 3% interest added, cannot provide many $40-a-month pension payments. On the other hand a man of 20 cannot expect on the average to live beyond 66 so that the Government figures on breaking even...
Thus was the American Legion founded. In 1920 the Legion first proved the potency of its devotion to "mutual helpfulness" when it got the pensions of disabled veterans upped from $30 to $100 a month. A second proof came in 1924 when it induced Congress to vote a bonus payable in 20 years to some 3,500,000 veterans. In 1931 the Legion was back at the Capitol, demanding and getting, under threat of political reprisals, legislation whereby veterans could borrow 50% of the face value of their bonus certificates. And in 1934 it secured the restoration of a large...
...uniformly wise and sweet and kind, and also pathetic. There is a conspiracy to write off all the laziness, incompetence, wastefulness and all-around uselessness of which they may have been guilty . . . while they were putting in their time. The Townsend Plan makes no discrimination. It would pension, at the rate of $200 a month, a vast number of itchy old loafers who never were willing to pack their own weight and earn their room on earth at any time in their lives. . . . For a President to admit, however, that such a thought had crossed his mind would...