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Today in Labor History

Sept. 20, 1887
According to folklorist John Garst, steel-drivin’ man John Henry, born a slave, outperformed a steam hammer on this date at the Coosa Mountain Tunnel or the Oak Mountain Tunnel of the Columbus and Western Railway (now part of the Norfolk Southern) near Leeds, Ala. Other researchers place the contest near Talcott, W.Va.

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Updated: Sep. 20 (16:05)

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Retirement Income in the 21st Century
Posted On: Aug 21, 2018
August 21, 2018 | RETIREMENT SECURITY | Last week marked the 83rd anniversary of Social Security. The program has been an enormous success by any measure. It has lifted tens of millions of retirees out of poverty and provides the bulk of retirement income for most people after they stop working. It also provides disability insurance to workers unable to work and survivors’ insurance to the families of workers who die at an early age. The program is extremely efficient, with administrative costs that are just 0.6 percent of the money paid out in benefits each year. By comparison, privatized systems often have costs that are 15-20 percent of annual benefits. However successful Social Security is, it still does not provide an adequate retirement income… Truthout 
 
 
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