"Galloway also believes exceptionally wealthy people are not taxed at a high enough rate that pays their fair share to fund the federal program.

He explains that he pays $9,000 in Social Security taxes each year, which is the same amount paid by someone with an annual income of $160,000."

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"The author says generating passive income is the key to building wealth, and that the amount of money one needs for financial security varies per individual.

That money total comes down to a simple plan: Generate more passive income than the rate at which you burn money. Galloway calls this a person's "burn rate."

He explains the math in the following way:" more at the thread link