Figure 4.22 A B D E F G 1 Fiscal Year Deflator 2 2003 94.91 3 2004 97.86 4 2005 100 5 2006 Alcoholic Beverage Cigarette/Other Tobacco Corporate Gross Income Individual Income Sales and Use 35,247.4 112,739.4 390,238.8 2,089,540.4 2,089,401.8 33,593.8 110,113.7 336,837.2 2,183,972.1 2,154,512.7 33,831.6 111,363.1 344,743.2 2,246,760.5 2,216,489.3 33,224.5 110.278.4 162,933.0 2,412,471.9 2,340,876.4 33,974.9 113,380.3 606,169.0 2,541,895.1 2,600,667.8 33,590.2 123,025.6 532,210.9 2,767,743.1 2,810,403.8 33,847.8 123,720.2 477,982.9 2,966,265.7 2.965,275.9 33.942.4 128,420.3 436,129.2 3,197,117.8 3,145,959.5 102.49 6 2007 104.85 7 2008 108.24 8 2009 111.71 9 2010 114.93 You are an analyst in the State of Somewhere Department of Revenue. Your boss wants you to complete an analysis of which taxes provide a stable revenue yield. Part of this analysis involves assessing which taxes have kept pace with price increases for purchases of state government services. Your boss is especially interested in five taxes: the alcoholic beverage tax, cigarette and other tobacco taxes, the corporate gross income tax, the individual income tax, and the state sales and use tax. You gather the data in Figure 4.22, which includes the last eight fiscal years of data on tax receipts in these categories. Analyze the data in Figure 4.22 and write a short memo (1 page) recapping your findings. Be sure to talk about (at a minimum): 1. Which taxes performed the best in terms of outpacing inflation? 2. Which taxes did the worst in terms of inflation? 3. Were any anomalies present that could have affected results