No.  Each tax year has its own software, as tax laws change frequently.  You need to use the software that coincides with the tax year for which you're filing.

Next year's program will come out in Mid-Late November.  You can buy it directly from Turbo Tax or check in stores for sales.  You can sign up to get it as soon as it is available.
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so 2016 tax software is obsolete and I am expected to buy new disc software every year?..how come owner of the software can't just get the free update instead of buying a whole new software?

There is not a way to just update the software from one year to the next.  Each year's software is designed to comply with the tax laws in effect for that specific tax year.

We live in a technological era and TurboTax can't push new software updates to every customer that have purchase their tax programs?....guess I'll just stick with doing them online than...Spend so much money on this physical copy and its now obsolete. Thanks.

Actually it is often more cost effective to use the deskotp software, especially if you prepare returns for other family members. When you use Online TurboTax, you get one return per fee.  Each return needs its own account and user ID.   If you use the same account and user ID for a second return, you overwrite the first one and lose it forever.
 When you use Desktop TurboTax, which you install from a CD or download to your own hard drive, you can prepare and e-file multiple returns for the cost of the software.  You can e-file up to 5 Federal returns—more if you mail the additional ones.  If you have multiple returns to prepare for family members, Desktop is more cost effective.

Sweet, I don't disagree with our comment. I only wish Turbotax pushed new software updates to Desktop owners. I do not want to have a library full of TurboTax CDs for each year i file my taxes. But I guess thats how TurboTax makes its money.

That wouldn't work for many reasons and no company can do that.  What if you needed to do a prior year return like for 2014?  Or needed to amend a prior year.  There are too many tax law changes eac year.  Each year is specific.  
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You could buy the download instead of the CD.  Then you can download it again and download it to computers that don't have a CD drive.  But you have to get the right download, Windows or Mac.  The CD has both Programs on it.