Investor Warren Buffett poses for a portrait during an interview after a luncheon to benefit the Glide Foundation of San Francisco in New York on April 23, 2014.
Lucas Jackson/Reuters

Business Latest: Millionaires want higher taxes

 

MILLIONAIRES WANT HIGHER TAXES TO FIX INEQUALITY: In the heated debate over inequality, the wealthy are usually portrayed as the cause rather than the solution. But the first CNBC Millionaire Survey shows that most American millionaires believe inequality is a “major problem” for the U.S.  And nearly two thirds support higher taxes on the wealthy and a higher minimum wage as ways to narrow the wealth gap. The findings show that, far from being a purely self-interested voting bloc, American millionaires have complicated views when it comes to the wealth gap and opportunity in America.  Read more

STATE OF UNION FOR AMERICAN FARMS: A breakdown of the recent farm census study. A big take away this year is concentration of income and farm production. Three quarters of all farms had sales of less than $50,000 and produced only 3% of total value of farm products sold. Farms with sales of more than $1 million, which is 4% of all farms, produced 66% of all farm products. Read more

GAS PRICES: Oil bulls bet U.S. gas demand will support price. Read more

STOCKS FINISH SHARPLY LOWER AS AIG WEIGHS ON FINANCIALS; TWITTER HIT: Read more

Economic Inequality

Business Latest: Millionaires want higher taxes