Word: townsends
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Dates: during 1930-1939
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...TOWNSEND...
Wrote Pundit Walter Lippmann of the New York Herald Tribune: "This sum [for pensions] has to be raised by a general sales tax. Retail sales this year have been about $30,000,000,000. So the Townsend Plan would have meant that for every dollar anyone spent in a store this year he would have had to pay an additional 70? tax. . . . Anyone can figure out for himself the minimum that the Townsend Plan would cost him; he has only to subtract about two-fifths from his expenditures...
...Townsend's error lies in forgetting the simple truth that someone must produce the wealth which is consumed by the nonproducers, be they infants, old people, sick people, the unemployed, the idle rich, or the criminal classes. If Dr. Townsend's medicine were a good remedy, the more people the country could find to support in idleness the better off it would...
...Townsend is in my opinion a public benefactor. He has succeeded in inventing a conundrum which reduces to absurdity a whole mass of ideas that have had great vogue during the depression. . . . They all derive from the same notation, spent which is more that they if would people be richer. worked . . less . The depression itself is the most drastic limitation of production ever experienced. The population on relief is the largest number of people ever supported in idleness. If there were any truth whatever in the theory that a nation can become prosperous by not producing, then the depression itself...
...Washington, Dr. Townsend disposed of Pundit Lippmann's argument with ease. "A very careless job of rationalizing," said he. "My plan is too simple to be comprehended mann's." by great minds like Mr. Lipp