Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1940-10-17

him getting retirement pension,
while he lines up for relief.
The Townsend Bill is the only bill
that will give the farmer and the
employer the same fair treatment
that is given workers of the country
because under this bill every man
and woman in the United States
over 60 years of age is eligible for
benefits if he can show sufficient
need.
Furthermore, these taxes now
paid by the employer, go to Wash
ington and can be invested only in
government bonds. In 80 years,
this huge fund may amount to forty
billion dollars. Eventually the time
will come when the Social Security
board will own every government
bond in the country. When that day
comes, not bank in the United
States will be worth a dollar; not a
bank in the United States will be
safe because government bonds are
the foundation stone of the good
banker because they can quickly be
converted into cash. The only way
| peal this part of the Social Security
peal it. The Social Security board
buys the bonds; the government
! spends the money, and eventually
! the people will be taxed again to
| pay the pensions. Why not adopt a
sensible provision of paying these
| pensions as we go and stop now
the building of this huge fund in
I Washington?
Under the present system of old
age pensions, the federal govern
ment furnishes one-half the money
and the state the other one-half
Every time mistake is made, one
blames it on the other. The pres
ent Townsend bill providing for a
national pension is the only way to
avoid this disaster and the only
way that politics can be taken out
of the pension system forever. To-
day, one man may get $12 pei
month; the man next door to him
may draw $25 per month. The only
way to remove injustice and in
equality is by adoption of national
old age pension. Under the present
system, every state pays different
amount. Ohio pays an average o1
$22 or $23 per month, and has pro.
vided for $40 per month payment
after January 1st. New York anG
Colorado have provided for a pen
sion of $50 per month. Ohio, as
one of the big tax paying states, has
been paying part of the pensions ir
every state in the union, that pay
more than Ohio, because Ohio con
tributes to the one-half of the pen
sion paid by the federal govern
ment. The only way to stop this il
by adopting a national old age pen.
sion system. Last year, Ohio spen
over sixteen million dollars, repre-
senting her one-haIf of the money
paid in old age pensions within the
state. If the Townsend bill is
adopted, the state would save over
sixteen million dollars each year
This would allow the state to ade-
quately care for all tubercular cases
for all dependent children, meet al
additional school and relief needs
and still have sufficient left for 2
considerable tax reduction. Every
employe should welcome such a
bill because he will no longer need
to keep accounts and pay a retire
ment tax on every man who works
LOT Hlul, Livery IdIIHeI anu eIIl-
ployer should support it because ii
is the only way that he can secure
old age protection. Every banker
and every citizen should support il
because it is the only way to elimi-
nate the building of huge pension
reserve in Washington. Under the
Townsend bill, the present Social
Security tax will be eliminated and
the stimulation to business will
more than earn the 2G6 tax requir-
/ ed Purchasing power will be in
creased, employment in private in
dustry Of young people and WPA
workers will be possible, injustice
and inequality of the present system
will be removed, and the first great
step will be taken toward having
the government pay its bills with
cash instead of borrowed money