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It’s called class warfare

spriggclasswarfare 600Everyone knows America has a hyper inequality problem. The six Walton family heirs who own Walmart have the same wealth as the bottom 42 percent of Americans. In the latest data through 2011, researchers Emmanuel Saez and Thomas Piketty show the top 1 percent of income earners in the U.S. get 20 percent of all the income. Both the Organization for Economic Cooperation and Development (OECD-the organization of the advanced industrialized democratic countries) and the International Monetary Fund (IMF) recognize that high levels of inequality hurt economic growth.

The question is: What do we do about the inequality?

Understanding the need to explain inequality, we now hear from Republican House Budget chair Paul Ryan (R-Wis.) in an interview on Bill Bennett's "Morning in America" radio show that the problem is rooted in the cultural inferiority of inner city men:

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MONEY MATTERS: Fixed-indexed annuities

CharlesSimsJr-160If you want to participate in the potentially attractive returns of a market-driven investment but would also like a guaranteed return, an indexed annuity might be worth checking out.

The performance of indexed annuities, also referred to as equity-indexed or fixed-indexed annuities, are tied to an index (for example, the Standard & Poor's 500*). They provide investors with an opportunity to earn interest based on the performance of the index. If the index rises during a specified period in the accumulation phase, the investor participates in the gain. In the event that the market falls and the index posts a loss, the contract value is not affected. The annuity also has a guaranteed minimum rate of return, which is contingent on holding the indexed annuity until the end of the term.

This guaranteed minimum return comes at a price. The percentage of an index's gain that investors receive is called the participation rate. The participation rate of an indexed annuity can be anywhere from 50 percent to 100 percent. A participation rate of 80 percent, for example, and a 10 percent gain by the index would result in an 8 percent gain by the investor. Some indexed annuities have a cap rate, the maximum rate of interest the annuity will earn, which could potentially lower an investor's gain.

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UConn and Louisville advance to AAC Final

AMER 600The inaugural American Athletic Conference semifinals played out Friday night at FedExForum and moving on are the Louisville Cardinals and the University of Connecticut Huskies.

The two schools met in the 2011 Big East Conference Final and played two regular season games, with Louisville winning both contests (76-64 and 81-48).

Louisville, the conference's second seed, flew pass the University of Houston, blowing out the Cougars 94-65 in the Cardinals' semifinal match-up.

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Harvard minorities inspire students of color around the world

Harvard 600The student group I, Too, Am Harvard at Harvard University, which celebrates diversity at one of the nation's top educational institutions, is inspiring other students from other universities around the world to form similar groups.

"I, Too, Am Harvard" is a play based on interviews with African-American students, exploring their experiences at Harvard College. The play was the inspiration behind the I, Too, Am Harvard photo campaign.

Throughout the photos on the campaign's Tumblr, students hold dry erase boards with things written on them that they believe or that they have been asked or told by students of different races. This campaign provides students of color with the opportunity for their voices to be heard on campus.

 

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