It’s a critical year for Congress and the President to reach agreement about tax reform and the Federal budget. Not only can new legislation impact where your tax dollar is spent, it can also change where it is comes from. Congress and the President play a dual role in making this happen. Whether you file your income taxes and either owe Uncle Sam or begin looking for your tax refund, you might wonder, how is my tax dollar spent? Here we’ve broken down the sources of Federal tax revenue, how these have changed in the last decade, and how this same scenario could could play out in 2012, based on the proposed 2012 Presidential budget.
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