Study Uncovers Secret Behind Black Unemployment Rate

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A major sector of the United Church of Christ is calling for a boycott of the Washington Redskins until the team changes its name. The Central Atlantic Conference passed a resolution Saturday to become the latest organization to denounce a name that has frequently been condemned as a racial slur. The conference said it will urge its 40,000 members in D.C., New Jersey, Delaware, Maryland and parts of Virginia and West Virginia to boycott the team’s games and merchandise. Read more.

Paycheck Garnishes For Student Loans Jump, Senate Fails To Act On Refinancing Law

Data analyzed by The Wall Street Journal shows that paycheck garnishment for student loan borrowers was up 45 percent over the previous decade for the fiscal year ending September 30, 2013. The Education Department is actively collecting from borrowers who have defaulted on federal student loans even as debate rages on about what the government should do to help. Borrowers are in default after missing 12 monthly payments. The government can begin taking as much as 15 percent of post-tax wages without court approval at that point. Though there are different circumstances that land borrowers in this position, many of those who are falling into default, according to the WSJ, are professionals who borrowed a ton to get their advanced degrees, or those who never finished. And many who find themselves getting their wages garnished end up in that position for quite some time. Read more.

Ballin’! Michael Jordan Is Officially A Billionaire

Dr. Dre isn’t the only one moving into new tax brackets. Forbes is reporting that back in February Jordan’s annual earnings stood at $90 million and his net worth at $750 million, but sources say the Charlotte Hornets owner increased his stake in the team from 80% to 89.5% in the past several months. Read more.

 

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