Our most popular charts from 2016 illustrate the nation's fiscal challenges in areas like defense spending, healthcare, and tax reform.
- The Fiscal
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With the election in the rearview mirror, a number of important fiscal and economic policy issues continued to simmer throughout November.
Tax expenditures cost the government about $1.5 trillion each year, more than the budget of any agency or major spending program, including Social Security, Medicare, and the Department of Defense.
The United States collects less revenue as a share of GDP than several other high-income countries, including Japan, Canada, the United Kingdom, Germany, Italy, and France.
Major tax expenditures tend to benefit high income taxpayers more than lower income groups.
Viewed in aggregate, our tax system is generally progressive.