Miller introduces the components of funding or revenue received by our government. Four of the components are Individual Income Taxes, Corporate Income Taxes, Social Insurance Taxes, Excise Taxes.
a. Of the four sources of funding listed above, which sources are likely to increase/decrease Again, be sure to distinguish between a change in dollar terms versus a change in its contribution to overall funding/revenue.
b. Choose one of the sources of funds and explain the underlying economics and/or demographics that would lead to its becoming a larger (smaller) percentage of the budget over the next decade or so. For example, we might see an increase in funding for social insurance taxes if future generations are required to pay higher taxes.
Explain your answer and document with support from at least one outside source other than the text book.