Michael Bloomberg won't be endorsing Warren Buffett's 'tax the rich more' proposal anytime soon.

The New York City mayor appeared on Meet The Press Sunday morning, describing his fellow billionaire's recent comments on taxes as 'theatrics" and defending high income individuals once again.

"I think it's not fair to say that wealthy people don't pay their fair share in taxes," Bloomberg said. "They pay a higher percentage. They have a higher rate of people who make less. The Buffett thing is theatrics."

Bloomberg's comments on high income earners regularly paying a higher percentage in taxes is not entirely accurate, since the IRS has indicated that a number of millionaires pay at a lower rate.

Bloomberg added: "If you're going to raise taxes, you're going to have to raise taxes on everybody."

WATCH: Video from NBC, which appeared on September 25, 2011.

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