FDR, New Deals, and the Limits of Power 191alarmed and spent more money on any state campaign up to that time to
defeat Sinclair, a task made easier by FDR’s refusal to even endorse him and
the distance kept by New Dealers from EPIC. While Sinclair may have been
in the same party as the president, EPIC was not rooted in capitalist ideas like
the New Deal was. Sinclair lost the general election by a large margin, but
the message to FDR, and thus EPIC’s legacy, was clear—he had to do some-
thing to make the lives of ordinary Americans better in order to avoid radical
alternatives.
Also coming out of California was Dr. Francis Townsend, who, concerned
with the problems of the elderly, devised an intricate pension plan. Funded
by a 2 percent “transactions tax” [a tax paid by the seller on every commercial,
business, or financial transaction] each American at age 60 would receive $200
a month. The recipient had to be retired, not a criminal, and, most impor-
tantly, had to spend the entire amount every month—and thus create greater
consumption and put young people to work as the elderly could now retire.
Within a couple years of announcing his program, it was immensely popular,
with 56 percent of Americans supporting it. Over 7000 “Townsend Clubs”
with 2.2 million members existed, and in 1936 Townsend delivered petitions
with over 10 million signatures to Congress to demand a pension plan. As
with Sinclair, Townsend’s ideas did not succeed, but the New Deal got the
message from his popularity, and the issue of pensions would soon be
addressed.
Probably the most vocal and noted critics of FDR were the United Mine
Workers leader John L. Lewis [discussed below], who called the NRA the
“National Run Around,” and Huey Long. Long undoubtedly had the largest
following, and got under Roosevelt’s skin more than any others. In a February
1934 radio talk, Long announced his “Share Our Wealth” program, which
rivalled the Populists of the 1890s in its critique of the affluent and proposed
solutions to redistribute wealth. Long proposed that personal fortunes be
limited to $50 million [$870 million today] and then lowered it to between
$5-8 million [$90-140 million today]. He would also limit annual income to
$1 million [$17 million or so now], and limit inheritances to $5 million [about
$90 million in 2014]. His plan would also guarantee every family an income
of at least $2200, free college tuition or vocational training, veterans benefits
and healthcare, a 30 hour work week, pensions for everyone over 60, and state
regulation of production to keep prices stable and affordable. Long in par-