taxes

5 higher taxes that target the wealthy

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39.6% top tax rate
39.6% top tax rate | Colin Anderson/Getty Images

39.6% top tax rate

Before the tax law was changed in 2012, the highest possible tax rate was 35%. The signing of the American Taxpayer Relief Act into law bumped the top tax rate up 4.6 percentage points.

Higher-income individuals now face a possible 39.6% tax on their wages, also known as ordinary income, once they exceed a certain threshold.

The income triggers are indexed for inflation. For the 2015 tax year, for example, married couples' combined income must exceed $464,851 to be taxed at the top rate. In 2016, the earnings amount goes to $466,951.

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