Tax rate is above 80% for self employment tax. I took the standard deduction after that income was around $4k, and it is saying I own over $3k in taxes?

Only 92.35% of your Net self-employment income is used to calculate Self-Employment taxes.  The SE tax rate is 15.3% 

SE taxes are reported on your federal tax return, Schedule 2 Line 4.  The amount from Schedule 2 Part II Line 21 flows to Form 1040 Line 23

Self-employed individuals will pay income tax and self employment tax when they file their income tax return.  The self-employed tax rate is 15.3% of 92.35% of your self-employment income.  You are paying both the employer portion and the employee portion of the Medicare and social security tax.  Once your self-employment is calculated it is added to your 1040 return.  The self-employment tax you pay does not offset your income tax.  Your income tax will be calculated based on your total income exceeding the standard deduction.

For more information on Self-Employment Tax and Income Tax, see the links below:

• Self-Employment Tax
• What is Income Tax?

@kareezia