Is that her total tax rate or her marginal tax rate?
If it is her total tax rate and assuming she is married filing jointly with Nebraska income tax and SS+Medicare up to 106,000 and only Medicare above that, I come up with a pay of about $357,000. I ignored deductions and exemptions and any capital gains, even though she should have some. If those were included her income would have to be even higher to get to 35.8% total income and payroll taxes. I also didn't count the employer's half of social security. Either way, she is right about at the bottom edge of the eeeeeeeeeeeeeeevil top 1% of income earners, and I dislike how she is being used as a political bloody shirt comparing the income taxes paid by a 1%-er against a the capital gains of a 0.001%-er.
Basically, it's line 60 (tax) + SS+Medicare taxes paid (the full 14.2%) / line 43 (taxable income -- not AGI).
Which is to say all the huffing and puffing boils down to him not paying SS/Medicare on the 60 million in capital gains and dividends.
Well, that and the 14.2% ss/medicare tax is applied before any deductions and credits so an individual with a $100,000 salary, $14,200 in FICA taxes, $85,800 in deductions (that's a lot of kids) and $1,500 in income tax has a 110% tax rate, according to his "math".
Worth noting -- as of 2013, there's a 3.8% medicare tax on investment income in excess of $250,000.