Quote by Michael Bloomberg
If Warren Buffett made his money from ordinary income rather than capital gains, his tax rate would be a lot higher than his secretary's. In fact a very small percentage of people in this country pay a big chunk of the taxes.
Summary
This quote highlights the discrepancy in tax rates between different income sources and individuals. It argues that if Warren Buffett, a successful investor, earned regular income like his secretary, he would have a higher tax rate. It suggests that a small percentage of people, likely referring to the wealthy, contribute a significant portion of the country's tax revenue. The quote implies that the current tax system may disproportionately burden certain individuals or income types.