3-08-06 - Housing

3-08-06 - Housing - More Social Security and Housing 1 2...

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More Social Security and Housing 3/8/06 1. Pre-Class Notes a. Hawley readings are options, Focus on the Radford reading b. Court Packing on Monday 2. Social Security after 1935 a. Immediate Reaction to Old Age insurance i. Republican Alf Landon calls for repeal of old age insurance ii. Payroll deduction tax in 1937 – Businesses refuse to pay and claim this is unconstitutional 1. Court upholds constitutionality iii. Senate questions how to finance this program especially as the economy begins to turn down again 1. Need to accumulate funds in 1937, pay out by 1942 2. Dislike over accumulation without putting money into the economy iv. Old age assistance for poor provides immediate benefits b. Commission provides 1939 amendments for OAI i. Individual retirement plan family support: spousal benefits etc… 1. Encourages traditional gender roles ii. Change the formula to make payouts more generous for lower income workers iii. Try to start payments in 1940 iv. “Pay as you go” financing scheme 1. Hold to pay for current generation of retirees c. Social Security promises social reform 3. Housing
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3-08-06 - Housing - More Social Security and Housing 1 2...

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