I'm surprised it is that high. Plastic is cheap to produce, and the quality of plastic from US recyclers is poor. It is so infamously dirty that China banned importing recycled plastic from the US. By the time you wash the peanut butter out of each peanut butter jar, you've spent more in water and labor than the plastic is worth.
But ultimately, landfills are a good place to put plastic. It sequesters the carbon and keeps the pollution contained.