Where Our Tax Dollars Go

It’s tax time again, and as you look over your tax payments for calendar 2016, you’re undoubtedly wondering where those dollars are being spent.

The Wall Street Journal recently published a chart which breaks down spending for every $100 of tax receipts—and concludes that the U.S. government is actually a very large insurance company that also happens to have an army. 

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Preliminary Tax Forecast

Many of President-Elect Donald Trump’s policy proposals are too vague to analyze, but one area where he has been clear is on reforming our tax system. Here’s a quick primer on the changes that you can expect to be introduced to Congress in the coming year.

1) A shift from seven income tax brackets to three:

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