Why does President Obama pay same tax rate as me?

President Obama has often justified increased taxes on the wealthy by stating that it is fair. Even though I am wealthy according to President Obama, I am poor compared to President Obama. Why is it fair that I pay a much higher tax rate than someone who makes ten times less than me, but President Obama pays the same tax rate as me but he earn nearly ten times more ($2,656,902 in 2008)? Seems like fairness is all in the eye of the beholder.